Hi, just wondering if someone can help me out who fits a similar tax scenario.- US Citizen residing outside of the USA, paying taxes in another country on global assets and owning a rental property in the USAThis is t...
Hello All, I am trying to purchase a 5 unit in PA. I had requested the following information from the seller.1) Annual property operating data for the last 12 months.2) Current rent roll3) Past rent roll for 12 months...
As a wholesale real estate investor, do i report or pay taxes on the assignment fees? I've watched alot of videos on youtube from investors and they never discuss that part. I am new to this business and i want to be ...
Hi. We have several rental property under personal name not LLC yet. My 12 and 14 years old have been helping with rental a lot especially over the summer, they pretty much did all the paintings plus lot other jobs. ...
Hi, Looks like taking out HELOC to purchase additional investment property is not as beneficial any more (still beneficial! just not as). The interest paid on HELOC to purchase investment property is no longer tax de...
I am a wholesaler in need of a chart of accounts to set up my books. Since I'm just starting out and not in need of project management or anything too fancy, I'm doing everything in Excel. If anybody has a list of tax...
I just bought a SFH through my LLC and I'm still not sure if I'm going to flip it or rent it. One thing weighing on my decision are taxes.
If a single-member LLC owns a property, rehabs it, and sells it, are the prof...
I have done a short wholesaling campaign last year. where would you include/how would you tabulate that come tax time? I purchased rental properties at the end of 2014 and middle of 2015. The wholesaling was a busines...
How do you pay an accountant for tax consulting? Is it an hourly rate? Or a monthly fee and you can ask questions anytime? I’ve never had an accountant but the more I learn, the more I see how important a real estate ...
Are there any other benefits to putting a property in a trust VS LLC aside from when in a trust there is a beneficiary designated should the trustee pass away so it is clear who the property would go to.
I guess thi...