Alice Yip
Need CPA with motel/real estate experience
My husband and I set up two Wisconsin LLCs to purchase two motels in Wisconsin in June 2018. Through one of these Wisconsin LLCs, we purchased a small apartment building in Michigan in July 2018 that we are still ren...
Michael Callahan
Capital Gains Tax on Property Sold by an LLC
I am under contract to purchase a condo in NH in my name to be used as a STR. We are paying cash. I plan to transfer the property into a multi member LLC (myself and family owned) shortly after closing. My question is...
Grace R.
Married couple - do we need two LLCs?
My husband and I have an LLC (incorporated in NV but we live in CA) in which we have 50/50 ownership. We currently 3 properties: a CA rental property in his name, an IL property in my name, and our primary residence i...
Jose Gonzalez
Can I withdraw the money invested into a fix and flip?
Wanted to know if I can withdraw money invested into a fix and flip to fix the property?Ex I invested 30K into a home. This money was income I had earned and had already been taxed on. I just want to get the money bac...
Dhruvrajsinh Parmar
Need Tax advise on split ownership
Hi all,Me and my friend just bought a house upstate New York for a STR. We want to get it online but last pending piece is tax information. Airbnb only allows one listing host and other person has to be co-host. It se...
Amby Bhagtani
Depreciation against W2 - Income
Hello, I make a money through W2 as well as stock options. Right now my taxes are high, due to stocks. I am curious does depreciation of rental assests reduce the total taxable income? Thanks, Amby
Jennifer H.
Avoiding Capital Gains Tax on Residence Sale
Hi all, three quick questions.1) Just wondering if there anything, beyond the 250k exemption, my friend selling his residence can do to avoid the capital gains tax.He's in California, single and has lived in the home ...
Eduardo Sagues
Buying a property with a partner under personal names
Hi, My friend and I want to buy a property in partnership 50/50 (not under an LLC so we can use conventional loan). He wants to invest his 50% with his wife. My understanding is that if the three of us show on the tit...
Jonathan Maldonado
Saint Petersburg potential?
Let me just start by saying how excited we are to start 2020 with aspirations of taking our financial future in our own hands. My wife and I are learning more and more every day and feeling more confident Real Estate ...
Mathew Allen
Tax Question for REA/FLIPPER
Hello, just starting my tax return for the year. I realize I may need to go the route of a CPA, but I'm trying Turbo Tax first and looking for advice. My question is this: I'm a part-time real estate agent/investo...