Jed Forster
Tax Liens for Newbies
I heard about tax liens on a BP podcast, and they sounded interesting but I'm still a little confused.What are they exactly?Where do you find some?How hard are they to invest in?What are some legal things to know?I'm ...
Mohamed Nagoor
SMLLC Tax Questions for Flipping Home Business
Hi,SMLLC to flip homes. Say I make 30K in gains during a year flipping homes. 1. I decide to take 15K as my annual pay. Can I take the Pay at end of the year when I'm filing my taxes OR do I have to pay quarterly esti...
Jorge Contreras
Need Help deciding which 401k plan to choose
At my old job I was getting a pension but since leaving that company and joining these new one where I work I am now offered a 401k plan, which I plan to fully take advantage of, to which I come here to ask those who ...
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...
Mitchell Rusten
ELI5, why do people put profits into a 1031 vs a tax write off
Simply put, why do real estate investors need to put their profits on something like a flip into a 1031 exchange rather than simply putting the profits into a new property and writing off the acquisition like a normal...
Brianna H.
Benefits of 401(k) over Property?
My husband's and my goal is to eventually use rental income as our retirement income. We currently have one rental home and are looking to have ~10 within the next 20 years. So the question is...what is the benefit of...
Jason Wu
Wholesaling profits and taxes
Quick one,I understand profits from wholesaling activities are tax as ordinary income; but, is there a way to minimized the taxes that one needs to pay from money earned in wholesaling?If say the goal is to reinvest t...
Dawn Anastasi
Cashing out a Roth 401k
I have been told all my life in saving into my 401k that you need to save the maximum that you can. So for many, many years I have been saving the absolute maximum allowed by the government every year into the company...
Jeff L.
Monthly mortgage payment questions - Hazard Insurance and County Taxes
My lender sent me the itemized monthly mortgage payments I'll be making. Along with the principle and interest are two items I had questions about:1) Hazard Insurance - does this go away once I'm covered by my own lan...
Adam Aust
What counts as rental income for tax purposes
I’m preparing to buy my first rental property soon. My question is about the taxable portion of the rental income, specifically, money that is set aside for repairs, vacancy and capX. Is that money considered as incom...