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LLC with Scorp elect vs 2 LLCs for taxes and operation expenses
Question about a possible alternative to the LLC with scorp tax election.LLC with Scorp tax@Brandon Hall, @Steven Hamilton II:)I see 3 downsides to running with the LLC with scorp election.1 Separate tax return for ea...
Ian McDonald
Depreciation recature and capital gains
Hello,Is it just me or does depreciation recapture and capital gains make real estate seem less lucrative or attractive than it used to? I'm not to keep on losing 40% of my hard work to the government. I know 1031's...
Angel Nieves
Best way to withdrawal 401k
Hello, I want to withdrawal from my 401k to have ready for an investment opportunity.Has anyone taken a withdrawal from their 401k retirement account during this covid pandemic? Per the Care act- an individual can now...
Jane Ng
Out of State Investors with LLC's
I am an out of state investor (live in CA) and currently invest in two different states (outside of CA). I created a Wyoming LLC and would love your thoughts on the following:
- Do I need to foreign file in each of t...
Shawn S.
When to Start Looking for a CPA as a New Investor
Hey guys,I am new to investing but was wondering when it would be recommended to start looking for a CPA?Also, what should I look for in a CPA? Is it required that they are "investor-friendly"? My uncle is a CPA, but ...
Jon Taylor
I own the business and the building (2 LLCs)
Hoping you tax strategists can help me think through this…I am the owner of a business and the only member in a separate LLC that owns the building.I am in a position to be able to decide how much rent the business te...
Anthony Del Russo
House Hacking Tax Deductions: Nitty Gritty
Hello BP!I am 3 months into my first SFH house hack (Going Great!) but am now trying to educate myself on further ways to be tax efficient.I understand how to calculate depreciation allowance on a house hack but was w...
Eran G.
Investing in notes within a self directed IRA
I frequently read that investors purchase their notes within a self-directed IRA. I understand the idea to be that the capital gains associated with the interest payments the borrower pays the note holder are then no...
Hannah Westner
50% rule in New Brunswick (Canada)?
Hello, BP newbie here. I was watching this video by Brandon recently and found the method interesting for helping to identify properties that might be worth a second look (https://www.biggerpockets.com/renewsblog/201...
Arniesha H.
Mobile home flips and taxes
I've been following a lot of the boards talking about the mobile home niche of REI, and am gearing up for my first deal this spring. One area I haven't seen a lot of discussion around relates to how the sales of these...