Cliff T.
How is income from private lending taxed? How does REPS impact this?
Hi all,Can anyone provide some guidance on how income from private lending is typically taxed? My understanding is that if I'm NOT considered in the business of loaning money, then the income is considered interest in...
Julio Gonzalez
Is cost segregation really worth it due to recapture?
One of the biggest arguments I see around cost segregation studies is the issue of depreciation recapture upon the sale of the property. Do the benefits of the cost segregation study outweigh the cost of recapture? As...
Felecia Brown
Tax on Rental Property Harrisburg PA
Hello, I recently bought a single family rental in Harrisburg PA, so my question is am i supposed to be paying monthly or quarterly tax to PA or wait until I file taxes next year? I am active duty with home of record ...
Alex Bacon
Looking for a CPA in Ohio
Hello all, I'm purchasing my first multi-family property in the Cincinnati area closing May 14th. Any good suggestions for a CPA that knows real estate taxes in Ohio? Thanks, Alex
Navid A.
Need help on how to get paid
Hey BP,I got wrapped into an informal partnership on a real estate flip project that we are about to sell after 3 months of rehab. We split the costs 50/50 and we are about to close soon. Since the partnership/deal wa...
Mark Ehause
It ought to be LLC???????
Hello everyone,I am a new real estate entrepreneur in the process of creating a magnificent business plan. I will invest into apartments or condos and then manage the properties. I have made the decision to chose an L...
Steve Sonneson
Laws regarding renting out bedrooms of your home
I live in Rockford Illinois and I plan on purchasing a property and renting out a couple of the bedrooms with a short lease and contract. I'm having a difficult time finding the correct information online regarding th...
Anand George
Sell NYC rental property outright vs 1031
Hi everyone,This is my first post on BiggerPockets :) I am excited to join this community!I am looking for some advice on tax implications wrt selling my rental property in NYC. I own a rental in the Financial Distric...
Jake Belden
Starting an LLC after two properties
In the past year, I have purchased two properties in the state of Connecticut, but am yet to form an LLC, which I would like to do ASAP obviously for a number of reasons. I have put 25% down on both properties with a ...
Neil Bresnahan
First Time Home Buyer Credit on the Horizon?
After the housing bubble of 2008 the federal government implemented a first time home buyer credit of $8000. I was a bit young back then, but I do remember hearing talk of this credit, as well as other government sti...