Liz Rogers
Capital Gains Tax Threshold?
Is there a threshold for when you have to pay capital gains tax? For example do you have to make $100K before you get hit with capital gains? Thanks!
Chasity Young
Can I be the bank to avoid capital gains?
If I own a rental property free and clear and want to sell it, I have to pay capital gains on it unless I put it into a 1031 and get a new property. If I were to sell it and carry the note for the buyer, would I then ...
Tim Hoffman
Should I convert my traditional IRA into a Roth?
I used to have a "Real" job and contributed to my 401k as much as I could. When I quit and went into RE full time, I rolled over into a self directed IRA, NOT a Roth. (This was done to keep my income low as I contin...
Ludmila M.
What are the cons of taking out ROTH IRA contributions?
My husband and I were thinking of taking some money out of our ROTH IRA for the REI business. The amount we'd withdraw would be around 20% of our overall retirement funds. We are in our 40s, if that matters.Aside from...
Michell Chase
Using lines of credit short term to DSCR closing costs…
I’ve already purchased 1 rental property (a duplex) this year with a conventional mortgage. I withdrew from my 401k for that as I am retired. I would like to buy my second duplex using DSCR loan which will require a...
Doug Watts
First Flip Listed! Any strategies to avoid CAPITAL GAIN$?
My first flip is listed on the market and should be selling soon. I was just wondering if there are any strategies or things that could be helpful to me on the capital gains. Im pretty sure in texas you have to own ...
Kunal Patel
Are FICA taxes deductible or only Federal and State Income Tax?
Hello,
Does anyone know what taxes are deductible through business expense? For example, if you have a W2 job and make 100K. Then you pay 24% on the 15K from the 85K to 100K bracket of your income. Adding the FICA t...
Account Closed
Tax on Seller financing
Im considering a seller financed deal on some properties where I have significant gain. The properties are worth about $220K, Purchase price was about $145K and of course deferred depreciation for about 7 years so tot...
Charles P.
How to file taxes for sale of rental property...
Hello all, The Jist:Bought single family house in 2008 for $93k, rented it out til May 2016Renovated house for around $12k and sold for $145k in Nov 2016Previous tax returns say I have accum dep of $26kBefore I head o...
Kevin S.
Use up retirement account for REI or non-retirement account first?
Hello BP members,Have any of you been there and done that? Left the market, completely or partially, and had to choose between using funds from either accounts? Which did you choose to dip in first and why? Looking ...