Jack Filo
Cost of LLC tax and fees in Tennesse
Hi Memphis Real Estate people,My name is Jack, and I am in negotiation for a property in Memphis. The property will be under an LLC. Does anyone know what is the annual fee for the LLC Holding in Tennessee?Do you know...
Feras Saffar
Tax deduction for maximum refund
Hello investors, I am new here.
How much tax deduction can someone get back from IRS after doing some renovation or not? Do you think a real estate CPA can get back more tax deductions than a normal CPA?
I appreci...
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...
Jerry Hodges
New LLC line of credit
I have a property that I’ve recently acquired. All of the 11 windows seem to be the original install from 1943 with the counter weights in the walls and everything. After the window replacement, some cosmetic work, le...
Chuck Schmidt
Cost Segregation for SFR, and does Bonus Depreciation apply?
Looking at some SFR homes to purchase, in the $140K range ( 1 story, brick ranch, garage, 3br). Providing all the usual calculations work out ( rent, expenses, management) I have a few more questions on how to help my...
Gilbert Lugo
Would I be eligible for tax credits?
Hello BP, last March I took the plunge and invested in my first duplex which I am house hacking. Throughout this time I’ve heard a few times how owning real estate is a great way to reap the tax benefits. I’m curious...
Brenda Lee
1099-K only issued to one owner under the rental home
My business partner and I currently use Avail to manage our rental home. The account is under her name and SSN. They mentioned they will be issuing a 1099-k after the end of the year. Since the account is under her S...
Bruce D. Kowal
April 18 is Election Day! Tax Elections, that is
April 18 is Election Day! It's the day you must make your election to be Qualified Real Estate Professional. This is IRC §469(c)7)(A).You really need to see a CPA to think this through.What you doing is combining r...
John Corum
What to do with expense money left over.
For tax and income purpose, what is done with left over expenses withheld before NOI. I mean, what do I do with it? Do I clame it as income if not used, use it as a mandatory cap-x and dump it into the property, take...
Juan Soto
Corporation vs Personal Ownership of Rental Properties in Canada
Hello BP Canada!
I currently have 12 doors which are personally owned 50/50 by me and my partner. We are thinking of transferring them to a corporation and are doing some research to evaluate the advantages and disad...