Jason Schmaltz
LLC Creation on Cash Out Refi - Getting the Money
I am in the process of lumping 12 properties together into a portfolio commercial loan. The lender requires I put all my properties into an LLC (currently all in my name) - no problem for me to do this and quitclaim ...
Edmund Fontana
What’s the recommendation if you have an S Corp
What are people recommending if you have an S Corp to minimize tax burden and continue to invest in real-estate. SEP IRARoth IRA401KSelf directed IRA / 401k
Jocelyn Canfield
legality/fairness of higher real estate taxes for investor owned
My son recently moved to South Carolina and I was looking to buy a long term rental property in his area but discovered that the real estate property tax is TRIPLE for non owner-occupied homes. How is this even legal?...
Account Closed
Capital Gains orn Refinanced Properties??
simple tax question here...if i buy a property and a rehab it, and i'm all in for 200k, refi it and pull out 100k more, and then firesale at 300k, do i owe capital gains or is it a breakeven? something i'm missing he...
Kenji Tominaga
County Mortgage Tax paid by the Buyer?
Hi Tax masters,I have a question about the county mortgage tax when purchasing a property.I'm quoting a mortgage from 3 lenders for a small multi-family in Bushwick/Ridgewood area (Brooklyn NY), and one of them estima...
Steven Lopez
house flipping question
Found my 1st flip. Its pre foreclosure. I am concerned on the taxes I will have to pay on the flip. expecting to profit 100,000.Any help on a strategy to lessen my tax burden would greatly be appreciated.Thanks Steve
If you’re asking your CPA how to not pay taxes, this may be the perfect episode for you. In fact, this episode is geared towards anyone making money in real estate, and listening could save you a massive amount in tax...
Percy Greyson
Carry Materials expense to sale of home next year?
Okay so been talking to a CPA and they are telling me that I can't take a previous year's expenses and apply them to the year a spec home is built because I run on cash accounting. I want to know what my options are ...
Robert Pfenninger
Texas Ballot on Property Taxes
Howdy my fellow Texas investors. Coming at you from Waco, Texas but my question is about something that will affect Texas as a whole. So I read that Texas has put the option to remove property taxes and replace them w...
Carl N.
1031: lower cost replacement property
I am trying to understand what my potential tax implications would be in this example scenario.1st property purchase:$600k with $150k down Sold for $932,5002nd property:Purchase price $1,925,000$385k down Sold for $2...