Jon Patzlsberger
Spouse hiring spouse's LLC to rehab a house
I'm the sole employee in my handyman LLC. My wife wants to invest in a house to hold or flip. She is not part owner of my LLC. Can she legally hire me and my LLC to do the rehab work? I would like to buy the materials...
Lucas Gunderson
Tax Questions
I've got some tax questions for all of you pros out there. When flipping homes, what is the best way to structure your company so that your tax liability is decreased? I've talked with several people and they have s...
Vladimir K.
Contractors and Taxes (two topics for the price of one)
Hi All, I'm getting close to pull the trigger on a cash deal not to far from me and, due to many years of reading horror stories, want to be prepared as best as I can. So, I have the following questions:
1. 1099 - ...
Bobby Shell
Taking out 401k to buy rental. 100% depreciation
Listening to Robert K (Rich Dad) and his partner Tom Wheelwright they said you can take money out of your 401k and take the penalty, but then buy a rental and depreciate it the first year to offset the loss where you ...
Sharon Hsu
Real estate tax in California
Hello everyone,I live in California but I recently sold my rental property in Ohio. I experienced a loss in terms of property sale and operational costs (managing and maintaining the property etc). Does anyone know wh...
Davidson Francois
What’s the purpose of an LLC???
I’m still learning the financing part of the real estate business but can anyone help me understand the llc aspect of real estate? What’s the person of having a llc when from my understanding you won’t be able to appl...
Calvin Lin
Selling a rental property through Partnership (multi-member LLC)
Hi, I co-own an LLC with another family member and have been filing IRS 1065 Partnership return and then distribute K-1's to individual owners. I am thinking about selling a rental property that the LLC has owned for...
Ryan Haley
Partial 1031 Exchange
I’m selling a property right now for a long-term capital gain of ~$55,000. Am I correct in understanding that my 2019 long-term capital gains will be 0% up to $39,375 and my standard deduction (single) of $12,200 mea...
Timothy Au
Downpayment: Should I be using a HELOC or my own CASH
Hoping to get some advice.
I've been buying my investment properties with 25% down of my own money and recently another investor recommended that I should be using my HELOC for the downpayment to allow me to write o...
Nili Yosef
Tax assessment question
Hi all,
What does it mean when on Zillow you see for example 2014 tax assessment
107,000 (on a single family house) and then 2015 and 2016 it's 35,000$?