Daniel Dunnigan
LLC Tax Savings for Land with Windmill Income
Hi everyone! Looking for advice on how to save on taxes. Thanks for your help!!
Situation: Purchased a piece of land in NY this year with 3 people (Dad, Uncle, and I). We paid for the property by taking a HELOC on ...
Ralfie Doe
Tax Deed Alabama Investing
I bought a Tax Deed this year from tax sale in 2014. The owner Quit Claim it to a company in 2018. But the former owner still owe taxes on it before it was sold to the state. So who is the new owner? How do I take pea...
Jeff Ronningen
Tax Treatment: Capital vs OpEx
Hello BPers, wondering what the consensus is out there for categorizing capital vs operating for appliances? Window A/C units? Painting? Refinishing floors? Carpet? I'm leaning to treating it all as expenses.
Richard Warren
IRS warns of First-Time Homebuyer Credit fraud
Boston - The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.
Full article:
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Holli Phillips
How do I or can I sell to someone without a social security number
I have a hispanic that is interested in buying a property for cash. How would I transfer ownership to him without a social security number? Is this legal?
Jose Contreras
Tax benefits from RE investing in high income earners.
Hello everyone,We recently started investing in real estate in 2020. We are buy and hold investors and currently have 2 doubles in the cleveland area. We got into investing for it's wealth building annd tax benefits. ...
Jack B.
2/5 year primary residence IRS test
What if you lived in a property as a primary residence for 2 years, and rented it for 4 years, then moved back into it for 2 years before selling it? Does it still qualify for the capital gains tax exclusion or will o...
Michael Hoey
Absentee Owners
As a new wholesaler I drive around looking for vacant properties. If no one is living in the house how do you locate the owner? Any tips?
Denise Evans
Alabama Tax Lien Sale Auction Season
Shelby County, Alabama kicked off the spring tax lien investing season with a bang on March 27, 2017. The big investors bid down redemption income to an average of 6% but that's still a respectable return in today's ...
Paul Passafiume
Kentucky LLET Tax 2018
If I am going to be turning a profit over 25,000 on my rental portfolio this year as a single member pass through LLC, am I required to make LLET estimated tax payments?FYI, my rental income is treated as a pass throu...