Steven W.
Solo 401k and Buying Property
I had a great conversation with @Dmitriy Fomichenko from Sense Financial today about setting up a Solo 401k, so I can roll over my IRA into an account in which I can make investments in real estate. He did point out s...
Iryna D.
LLC business account for Canadians
Good day Biggerpockets community!We are investors from Canada and just starting out in US market as well. We have registered an LLC in US, and I am looking to open a business account for it (we have an account for per...
Manco Snead
Student with One Property: Need to File Taxes?
Greetings folks,I'd appreciate any feedback regarding this question: I am currently a student and not working; my only income is some cashflow from the one rental property I own. I just filed my 2017 taxes, but it had...
Patricia K.
Looking for an accountant in Vancouver WA or Portland OR
Hey BP!I am looking around for an accountant in the Portland/Vancouver area who has RE clients and can speak into how Private Money lending will be taxed. Mine seems to have taken a vacation :( Your help is apprecia...
Jason Landry
Can I pay myself for snow removal, yard work, and other jobs?
Hello, I am new to the rental property arena. Currently have one duplex with aspirations to buy more in the near future. To minimize expenses I am doing light jobs at the property. Snow removal, mowing, painting, e...
Debbie Tringale
How do I make a profit?
By the time I pay all the taxes, insurance and interest on loans; I barely make any money. I would like to get help but lawyers and accountants take another bite out of my income. I am generating good income from my ...
Steve S.
How can I use my 401k to buy rental properties?
Are there other options besides taking a loan from my 401k? I can loan myself a max of $50,000. While that will help, I may need more and I have a pile of cash sitting there that I'd like to diversify away from stock...
David Mazza
Portfolio Strategy Tax Question
Hey all, I have a very high level tax strategy question / hypothetical as a sole proprietor LLC.
Let’s say I own a place worth $100k. After expenses, I net $15k in cash flow at the end of the year.
I then take tha...
Megan Arzt
LIRP in lieu of ROTH...
I have done some initial research and found this a rather controversial subject but here goes...I am currently a pass through entity and file as such. This means that all of my income is passive and that I can't contr...
Jaganath Dabbi
Renter income verification
I am a new landlord so please bear with me. I have 2 adults in the family renting. The lady is the main renter and her boyfriend 1. Do I get applications from both? 2. Do I require 3x income from both?3. Do. I rent if...