Hudson Walker
Fighting my property tax
Should I fight my property tax this year???Bought my home in July of 2018. Paid $245k. The county tax office is saying it’s worth $239k. So would it be a good idea to fight my taxes if I over paid on what they think t...
Account Closed
NEED YOUR OPINION - Cost Basis in an Acquisition Transaction
Hello guys,My business partner and I just had our construction project completed by our developer with a condominium building consisting of two units (one unit has access to its own rooftop and another unit does not h...
Phattu Gi
S corp shareholders capital accounts
I am looking for help with shareholder basis for s corp with 50-50 shareholders2019 basis schedules filed by prior CPA - She is not willing to share the shareholders basis (unprofessional)2020- Basis is at 180k for sh...
Tom Martinez
Prepaid mortgage interest on seller financed property
Does anyone know if it is possible to write up a settlement sheet to show a lower sales price, and "prepaid mortgage interest" as a line item. Not at all sure if this is doable but I am looking for ways to lower t...
Steve Maye
Need advice for financing purchase
Hello,Recently I posted a topic about purchasing my next rental property. I had considered paying it off in full rather than any financing, but I received a lot of advice showing that having some debt was a good thin...
John Coffey
Higher interest and lower purchase price
I am making an offer on a deal that the owner has said he is willing to finance. I know the guy and we trust each other. I am considering writing an offer with a 10% rate of interest for 5 years and then reducing th...
Mike Mitchell
Taxation of single member LLC
My accountant reported my interest income from my mortgage note portfolio as interest income with no schedule c. Could I lower my tax liability by reporting the interest in another way? This came up because I had an...
Jenny Ng
Unable to understand…please explain
Hi, please explain the information at the end of the post to me as I cannot sleep thinking about it. My lender is not returning work for a few more days so I wanted to ask this group about seller concession on a conv...
John Levora
$17,000 House Do you think this is a good one?
Here is what I am looking at a single family home which will be a cash deal $17000 and about $3000 to have it ready to rent. Management fee is 10% including tenant placement. $1350 a year taxes and $600 for house insu...
Brenda Hedges
Newbie from Central Vermont
I am so excited to have found Bigger Pockets. I'd like to introduce myself, my name is Brenda Hedges and I live in beautiful Waterbury, VT. I've been a real estate agent for about three years and work with clients to ...