Raphael Ramos
Tax Deduction on Promissory Notes
Do you know if it is possible to have a tax deduction for interest/profits earned on promissory notes/PML? Like a K1. A Trust is in place. Thanks!
Mitchell Kane
Borrowing money means less taxes?
Hi all,First time poster here, I would like to buy my first home soon, so I am trying learn about real estate investing, from Seattle, WA. I am reading one of the Rich Dad, Poor Dad books: Retire Youg Retire Rich, an...
Trevor F.
Challenging Property Taxes
Hi Everyone,I own many single family rentals in toledo and i have never tried to challenge the tax assessment. Is it worth while to do? Does anyone know any attorneys or anybody that can do this in Lucas County Ohio w...
Fe Kelly
Should I borrow from 401K
So my husband and I have little chunk of money in our 401k as well as some money saved. We plan to house hack our first purchase with the BRRRR method. Should we borrow from our 401k to make up the rest of the down pa...
Michael Little
Need new CPA in Durham/Raliegh NC area
I have been listening to the tax strategies podcast on BP and my current CPA hasn't been doing many of the stategies they talk about. Have not been taking the deduction for paying my children and the home office becau...
Lee Melvin
How long to build 1.5-2k in CF?
I graduated University in 2009 and at the time my goal was to travel and see the world. After this winter 5 years later I will have accomplished my goal. Now my new goal is building cash flow of 1.5-2k from rental ...
Nick Boring
Special 25k Deduction for Non-Real Estate Professionals
Hello BP!A business partner and I are saving up for our first investment property. We want to calculate the true ROI for the deal. My question is this:Can we both claim the 25k tax deduction from our rental property? ...
Gabriel Ortiz
Probate / Tax Auction Deal
Hi BP Community,
I need help with a lead I'm currently working on. Any advice or guidance will be appreciated.
Details:
Owner (mother) on title is deceased.Daughter wants to save the property from selling at tax a...
Jeffrey Hayes
Help! Best entity to form for flips for tax liability
Hi, I'm a real estate broker/investor in Tucson, AZ and I have been flipping houses for several years now. I am just about to be a licensed broker up in Colorado and I will be doing flips up there also. As of right...
Account Closed
Life Insurance to avoid taxes?
Is it possible to avoid paying capital gains if i get a life insurance?I heard life insurance has 3 benefits1. It pays you 6%.2. Your money is untouchable.3. Tax shelter