Nathan Gesner
Hiring children for tax savings
I'm just learning about hiring my children and the tax benefits. I think I understand how to do it, but am confused on one point. I'm reading online that we can hire a child up to the age of 22 but my CPA said 18. Can...
Brad Cornell
Off Market Purchase Agreement Help
Hey BP!So I have a verbal agreement on a 25 unit portfolio and I need to get it under contract. My question is this: is it best practice to have an attorney draft one up for me or is it better to be represented by a ...
Hunter Motto
New to BP and looking for an accountant!
I'm new to BiggerPockets community and excited to participate. I currently own 2 SFRs and (soon to be) 2 small multi-family buildings with a partner in Tacoma and Bellingham, WA (two secondary markets outside of Seatt...
Kin Meng Sio
Is primary residence HELOC interest tax deductible?
Hi,I live in Washington state and I have an in-state 4-plex currently under contract with conventional financing. I plan to use one of the following options to partially fund my down payment + closing cost:1. HELOC fr...
Sean Beyrouthy
Spreadsheet for accounting
Hey everyone! My first rental will be up and running soon and I wanted to scour biggerpockets to see if anybody was willing to share their excel spreadsheets they use for all their banking and account purposes to help...
David Martin
Looking for a CPA in South Florida (Vacation Rental Business)
Looking for a CPA familiar with vacation rentals? I am located in South Florida and have been having trouble finding a reliable CPA. Any help would be greatly appreciated.
Rajeev Agrawala
Tax treatment for Interest on rental security deposit
Hi,I have separate accounts setup for security deposit in Baselane. When I receive interest next year would I be responsible for paying the tax on that. How do people allocate tax to the renter rather than paying it t...
Account Closed
"Gifting" A House To A Spouse
Currently living in Miami, Florida and looking into getting into real estate investing. Married about 2 years ago and moved in home with wife who already owns her house outright. To start our jump into real estate i...
Myrtle Mike Thompson
S-Corp, LLC, or something else?
I created an S Corp several years ago for a business venture that never took off. I believe the Employer Identification Number that I was assigned by the IRS is still valid. I'm new to REI and will be purchasing my ...
BJ Butler
Loan repayment going towards mortgage
In the last 3yrs, I have loaned a couple some money that has totaled approx $15,000. This includes cash and items charges to my credit card on their behalf. Yes, we have a contract and I keep the receipts. As we appro...