Alex Huegle
How do I wholesale a property with 4300 Taxes owed?
So I have an extremely motivated seller wanting to get rid of a 3-family property for 500 dollars. It's in extremely rough condition, but could be a decent cash-flow property if done correctly.
The problem as...
Haickel Padron
Reporting 3 flat in Taxes
Hello everyone,I have a question in relation to reporting a 3 flat or 3 unit that I have in Chicago in the taxes. I still need to create my LLC but as of today the question is the following.How should I report the 3 f...
Yan B.
New to landlording, considering my first property (IL)
Hello everyone,I am seriously considering becoming a landlord, and recently I started looking at the "starter" properties nearby. Found a three-unit property with the asking price of $150k, property tax of about $7700...
Bill Cippola
Tax consequences. straight sale vs owne financing
WE are in the process of selling some land in Georgia we inherited back in 2014. We are Georgia residents. Without going into detail it was part of "gift" giving on a planned inheritance schedule below the max gift th...
Tanya McKinney
Capital Gains Taxes How to defer or is it possible?
For a lack of a better way of asking, what is the best way to avoid / delay the capital gains tax from the sale of a flip house? When I spoke to my accountant she said that the 1031 was used as stated for an exchange...
Michael Botha
Tax incentives for investements agriculture vs multi family
We are interested in diversifying our investments and investing in the live animal production agricultural sector in MT and or surrounding states. We are presently considering cow/calf live stock production with the ...
Bill Schrimpf
Do I need a new CPA - depreciation over 150k
Today my CPA told me that I cannot take the full amount of depreciation on my rental this year because my adjusted gross income will be over $150k. He said we can defer the deduction until we sell the property or AGI...
Ross Alcorn
Cost Segregation: W2 Employee and Not REPS: Worth it?
I'm wondering if it makes sense to do a cost segregation study if I'm a W2 employee and don't have REPS. I would be looking to do this for a townhome that became a rental in 2021 but I don't foresee myself moving into...
Portia Wells
How to make money with the high property taxes in Austin?
Hi! I’m newer real estate investor with aspirations to build my portfolio in a smart way. We own a single family 4 bedroom, 2.5 bath home (built 1977) in Barton Hills. It’s our primary residence but we’ve decided to n...
Alex Wollin
Search for CPA!
Hello everyone! I am in search of a CPA in the Seattle area to assist with my financials and future investing plans. What are some of the things you look for when working with a CPA? Any advice or help would be apprec...