William C.
Is a HELIC considered profit?
CPA’s, accountants, and loan officers please chime in but obviously don’t provide anyone with tax advice, but does my logic make any sense?I was told once by a lender that debt service is not considered profit. For e...
Julio Gonzalez
Car Washes and Their Unique Cost Segregation Study Benefits
Cost Segregation is a bit of a buzz word these days, but in case you aren’t familiar with what a cost segregation study is, let me explain. A cost segregation study is a strategic tax planning tool that separates the ...
Peter Bronk
How to pay off borrowed downpayment when doing a 1031 exchange
I purchased a four unit building early this year. Part of the down payment was borrowed using a 2nd mortgage against another building, so my real equity is lower than the building value less the 1st mortgage. Financ...
Sam Dangremond
Partnership tax basis and long term investing
I have a somewhat specific tax related question I'd like to see if anyone has encountered before.(Standard disclaimers apply, you're not giving me tax advice or financial advice, just looking for general resources etc...
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...
Jason Miller
Rental deductions & W2 income
My wife and I own 3 rental properties and our primary house. We both have W2 jobs and gross about $130k together. We are not real estate professionals. My CPA says it’s best for us to take the standard deduction despi...
Daniel Mendez
Cash Flow: How much should I save?
Good evening BP, What percentage of your cash flow do you save for tax purposes?
Michael Raegen
Looking for Tax Accountant recommendations
Hi All. I am hoping to gather recommendations for a tax accountant to help me with tax strategy to help reduce taxable income among other support. I am a full time engineer "W2" worker and have been an active licensed...
Jeremy Miller
Reduce Taxes Through Rental Property?
Hello, I have a family member who makes a significant amount of money a year and he hates paying taxes. He just got a very large check in which 50% is likely going to go to taxes. Would it make sense for him to start ...
Brannon Hamby
Seller finance to reduce taxes?
I am in final negotiations on acquiring a property that was inherited. The property is in a good location, thus attaching $value to the purchase price, but there are years of deferred maintenance, and a full rehab is...