Nick Hundley
Calling potential tenant references
Hello I am looking for specific questions to ask landlords and employers when calling references for potential tenants. I am sure the basics are did they pay rent on time, take care of the place, what kind of worker a...
Michael Mutebi
Use S-CORP Or Company Taxes To Cover 5 Month Job Gap on Conventional Mortgage App
I have a conventional mortgage application currently in progress. I submitted my W2s from multiple jobs for the last 24 months to be used for the application. Upon review of the W2s, UnderWriting is saying I can't use...
Spenser Murphy
Taxes and flipping properties
Are there any tax advantages to house flipping like depreciation? Are the profits tax free? I want to get into multifamily rentals. Someone recommended flipping houses to raise capital to purchase the rental propertie...
Allen L.
Need a fix and flip loan under personal title
Hi guys,
I'm under contract on a great deal. Purchase price 44K, estimated rehab budget 40-50K, ARV 150-180K. However I've hit a wall on lending because I'm in the US on a work visa so I can't show self-employment in...
Carson Wilcox
First flip... tax best practices....?
So... first flip is in construction phase... I hope to have some good profit at the end..For all of you tax geniuses.. I am looking for the idiots guide to taxes on your first flip. I am not to the point of LLC and ...
Ryan H.
Single Member LLC: Self Charged Interest to Reduce SE Tax?
Questions: (1) May the owner of a single member LLC loan money to the company and charge the company interest for the loan? (2) If so, is the interest paid by the company a deductible expense to the company reporte...
James Park
Can a business owner contribute to both the SEP and Solo401K 2016
Question for the SEP and Solo 401K experts. Suppose a Solo Financial Advisor pays himself a W2 of $50k in 2016 and has a Net Profit of $60,000 for his SCorp in 2016. What is the maximum amount the Solo FA can tax def...
Nicole G.
Need Tax Advisor/Strategist/CPA in California
I really need to find a professional to help strategize the best ways to reduce taxes in addition to preparing taxes. I have several rental properties and I am self-employed as a real estate agent. For example, I didn...
Greg P.
Pay myself Salary will help qualify for 30 year loans? Advice please
Hello, my question involves having my company paying me a salary. Would it be smart to do this since if I can show two years income, then I can qualify for 30 year loans on rental properties I am planning on owning. ...
Ashlie Tiscornia
Tax questions regarding selling a house
I bought a house in April for $26000, right now the house itself is worth $80,000. If I did some minor repairs on the house and sold it for let’s say $120,000 (that’s just an estimate) what would my taxes look like fo...