Derek Woolley
First Year as a Real Estate Agent
Hi Everyone,I'm considering a career change. I own a duplex that I live at and rent out and want to become a real estate agent since I'm not satisfied with what I'm doing now. My question/concern is do you make enough...
Jeff Tumbarello
FDCI eats another, Treasury getting read to eat 2 elephants
Correction: FDIC
http://www.fdic.gov/bank/individual/failed/silverstate.html
On September 5, 2008, Silver State Bank, Henderson, NV was closed by the Nevada Financial I...
Joel Trout
Must itemize to claim rental losses on schedule E?
Hello BP community. I have 2 rental properties. One shows profit, and the other shows a loss. My accountant says that I can't deduct the losses because the "standard deduction" is higher than my losses. So there is n...
Tim Sipowicz
Income to high to deduct Rental property
Hello BP community. I recently got my taxes done and was told I couldn’t deduct the rental loss due to my income for the year. What are my options here to capitalize on the tax advantages for next year? I have an LLC ...
Dina Schmid
Negotiations When Purchasing Existing STR
We're under contract for a SFH that is currently in use as a STR. Inspection revealed A LOT more problems than we ever imagined a house of this young age would have. We asked them to address 5 items that we saw as the...
Fernando Guzman
Am I Limiting My Wealth?
Thank you all for taking the time to read and provide any advice on my situation.
I’m currently facing a decision with my two properties and would appreciate your guidance. Here’s the breakdown:
- Property 1: This p...
Bawo Ayomike
Land Development Financing Question
Is anyone familiar with development project financing? The application process requires financial statements along with business/partnership tax filing. The documentation was provided to me two days ago to prepare. I ...
Russell Buxton
Tax question: Deduction or not?
I own 8 properties. I intended to buy one more. After the inspection, I decided not to go through with the purchase. As it was a multi unit building, the inspection was $2150. Can I deduct this loss against the gains...
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...
Brett Lee
How to prepare for Biden capital gains tax increases?
It sounds like capital gains taxes will increase under the Biden Administration. I'm curious to see what people's thoughts are in regards to protecting assets from Capital games. What types of things are you doing or ...