Anthony Shields
Will switching to S-Corp affect my ability to get loans?
My primary business is not real estate. I use the income from my primary business to qualify for loans. I'm thinking about electing S-Corp next year, but I'm worried it will cause a problem due to my "salary" being lo...
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...
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...
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...
Punith Shetty
Help Regarding EIN/LLC
My sister and I co-own a rental property, with each of us holding a 50-50 share. Our property manager mentioned that they cannot collect rental income for one property and divide it between multiple SSNs.
Here’s thei...
Dave Sandford
How did you register yours? * ITIN * LLC * EIN *
Hello brilliant BP crew.I'm just starting to invest from New Zealand and enjoying the podcasts that brought me here and reading all your informative posts :)I believe from some research before I start sourcing any pro...
Ray Simpson
Tax Question 401k withdrawl
I have an annual W2 of 80k, I file jointly with my wife, she has retired this year taking cash payout of her 401k & pension totaling 100k. She also has W2 income this year of 18k. My dilemma is my 401k of 90k tha...
Javon Gordon
Using 401k for investing
I have about $125k in my 401k from my job in which I do not plan on waiting until I'm 59 to withdraw or to retire. Is it a good idea to use some of that money to purchase some properties?