Jessica Brewster
Can I take ownership of property if I pay the late taxes?
Hello my name is Jessica I'm new to this but I've been a member of bigger pockets for a while now. Ok so my question is can I take ownership of a property once I've paid the property taxes on it and I have given the ...
Jessica Brewster
Can I take ownership of property if I pay the late taxes?
Hello my name is Jessica I'm new to this but I've been a member of bigger pockets for a while now. Ok so my question is can I take ownership of a property once I've paid the property taxes on it and I have given the o...
Chiarella Esposito
Taxes onCapital Gain from second home if used to pay off HELOC
Next year we mean to sell a house we purchased for our kids to use while they were in college. We can probably get around 40,000 in capital gain. Will we have to pay taxes on that gain if we use it to pay off a seco...
Jacob Pressures
Apt in GA. Own House in AL. Pay GA taxes. Disqualifies HELOC?
I guess I should have kept paying double taxes. IF i pay taxes in another state, that means that is my primary residence. Thus I can't get a HELOC on the house i own because it is not my primary residence. I stopped p...
Matt Arden
Should I file tax return on LLC if didn't pay any properties
Hello, I was wondering if I should file a tax return on the LLC I formed in Wyoming for my rental property business, even if I made no money in 2019 and bought no properties. I live in Florida and I am about to do my ...
Jackson Mayer
Pay other State's Income Taxes on STR that I manage, not own?`
Good morning! We own a small business in Florida where we manage 25 doors for STR. We are looking to expand into some other states that have state income tax, but not exactly sure what that looks like for state taxes....
Nick B.
How to convert traditional IRA to Roth and pay very little taxes
I have recently heard of an interesting tax-saving strategy of how to convert traditional IRA to Roth while paying very little in taxes. I would like to share it and get some feedback.
In this example I'll use a trad...
Craig Connors
Is there a tax deferral option after a Seller Financing pay-off ?
A seller named Al provided 80% financing on a commercial property he sold in 2008. The owner (Josh) is now selling the property and Al's loan will be paid off. Can anyone advise if there is a way to further defer the ...
Emerson Irias
When and how do I pay taxes on profit from a flip?
Good evening BP, I just flipped my first property and have a question on when do I pay income tax on my profit? And how do I do it? I have contacted a CPA and he told me that I don’t have to pay for two years or if I ...
Simon Obas
How can I minimize what I’m paying for taxes on flipping homes?
Peace. I flipped my first home last month and plan on flipping more homes this year (yay). But I’m hearing the IRS is going to kill me with a tax bill (capital gains). I have an LLC but I’m hearing I should switch to ...