William Howley
LLC wrapped in S-corp, which Tax form do I use?
Hi, long story short I setup my small real estate co in an LLC with the elected S-corp. Which Tax form do I submit to IRS? If you know the answer please provide the link. Anything special I should know when filing?
Wilson Vanhook
How to avoid taxes on a partnership with 1031 exchange
I have a very specific unique situation on hand. I'm doing a 1031 exchange from one property of mine to a new rental. I have somebody who would like to partner with me on the new rental property. To avoid taxes my pla...
Kevin Gates
Minimizing Capital Gains Tax After Investing in Rental Property
I have rental property and have put in $4,000 of improvements (i.e, new garage door, new carpet) while the house was tenant occupied this year. Now the tenant moved out and the property is vacant. I discovered the roo...
Jenny Gremillion
Tax Strategy question regarding Vacation rental
My husband and i (through our LLC) are under contract on a Beachfront lot in the pan handle of Florida. Plan is to build two townhomes connected to one another. We’re thinking about selling one immediately after buil...
Tomiko Graves
Should I register as a business (LLC) before I get started?
With the tax breaks that come along with owning a business, should I register as a business before I start flipping houses? I'm just concerned that the money gained will count as income which could be a tax nightmare.
Gabriel Valladares
Second Home Tax Deductions Help!
Hi Everyone!I have a unique situation and looking for advice. Long story short, I am Active-Duty military, got divorced and my ex-spouse was granted 25% of my future retirement. As of this year I worked a deal with he...
John Kelly
LLC at homestead house hack
Hey everyone,
House hacker here looking for some legal direction with taxes.
I live in one of two small multi family properties that I own. I get a veterans tax exemption on my homestead. I would like to group bot...
Carrin Johnson
Bill Summary: AB 1771 The California Housing Speculation Act: Impact on Fix and Flip
Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.
Under the proposed...
Anderson Hargrove
Tax on whole selling
When whole selling, do you pay taxes on the earnings? if so, is it charge as capital gains?
Adam Beckstetdt
Depreciation questions. How do you handle it?
What are some of your depreciation strategies? I am trying to determine the best strategies to increase my depreciation and lessen the time table. Typically one would do a cost segregation for each building. My consul...