Nick Peraino
Cash out refinance accounting question
Hi folks, is anyone able to advise me on what account in my chart of accounts to assign the cash that I received from a Cash out refinance on a rental property? I am aware that this is tax free money and I would like ...
Dawna Willis
Borrowing against my solo 401K
My spouse and I set up solo 401K trust accounts at a brokerage firm that also provided me with a check book and a debit card for my individual account. I rolled over part of one my non-Roth IRA accounts so I could bo...
Jason Robinett
Recoup downpayment
Bp community,
Can my initial downpayment be recouped as an expense against my rental income since these funds were already taxed?
JR
Bart Sikora
Looking for a Accountant in Calgary Alberta Canada
Hello everyone, I’m new to the bigger pockets forums but a long time listener to the podcast.I am in Calgary Ab, in Canada, and looking to work with a accountant for some tax planning for the purchase of my second pro...
Jack B.
Does escrow withhold capital gains tax?
Or do you just pay it when you file your taxes? I know for state excise tax escrow pays the state out of the proceeds. What about federal capital gains taxes?
Kaybreh Mathis
Do I Need to Issue 1099s?
Hello! My husband and I bought our first apartment buildings this year. We bought them in our own names. My dad has done a lot of handy man type jobs for extra income: painting, new faucets, flooring, etc. He is a tea...
Joel James
Self Directed IRA LLC's
I am looking at self directed IRA's using LLC's. From what I have read, this give the investor total control because the funds are at a local bank with check book control. This sounds great because it lowers the trans...
Michael S.
Wells Fargo's LLC bank account Sherlock Holmes (Utah)
I just got off the phone with a very smug account Wells Fargo business checking associate who was very proud of discovering my registered agent's address (used on LLC filing) on the state website listed for other LLC...
Josh July
What would you do? Investment strategy
What would you do? if you recently received a large settlement(over a million), got a great credit score of 770, have only a few hundred bucks of living expenses per month.
What would you do with the money? Would it ...
Bony Mathew
Inc or LLC as the management company for long term real estate?
Hello everyone,what's your take on creating an Inc (S-corp) as the management company for long term real estate and having separate passthrough LLC's for the actual properties that your buying ? (or should the managem...