Nick E.
How to book lender credits on a refinance
Hi, I do my own bookkeeping and am trying to figure out the proper way to book a refinance on an investment property.The refinance was a zero-cost refi with a huge credit of -0.75 points (on a $1.6M loan). This covere...
Thomas C.
Active Participation - Anyone have audit experience with this?
I've seen people in the BP forums with differing opinions on the topic (shocker!). Some say as soon as you get a Property Manager you are passive no matter what. Others quote the readily available Internet information...
Jennifer Swenson
Need CPA Help
I'm struggling to find a CPA knowledge about cost segregation studies and using the STR loophole to offset W2 income. At this point, I have talked to several CPA's, some of which charged consult fees, and they have al...
Nate Lindquist
Using equity to purchase investment properties
My wife and I currently own and occupy our first investment property, which is a multi family in a pretty popular part of Portland Oregon. We have owned it for a little over a year, and have roughly 200K in equity th...
Matthew Pine
Long Island Multi Family
Hello, I'm looking into purchasing a multi-family home on Long Island. I would love to hear some opinions on lower income areas in Suffolk as potential locations. Thanks.
Kyle Doney
401k Contributions From Personal or Biz Acct?
Hi,I cannot find any literature from the IRS on whether contributions to a Solo 401k from an LLC taxed as an S Corp have to come from the businesses account or if they can come from a personal checking account. My acc...
Michael Clanton
First joint venture purchase with SD IRA's
Hi fellow BP members! This is my first posted question, so please bear with me!My dad and I recently used our SD Roth IRA's for the first time to purchase an investment property in SC that we plan to flip. The propert...
Mike Roterdam
Any Tax Advantages To Closing On The Last Day Of The Year?
To All,my wife and I and partners (daughter and son-in-law) purchased a condominium investment property on December 31, 2015.Some questions:(1) Are there any real tax advantages to closing on the last day of the year?...
Cindy Tang
Can Depreciation be adjusted if it's not limited in prior taxes?
I have 2 rental properties, Texas and Georgia. I sold one in GA in 2018 (which we purchased in 2007) and didn't do 1031 Exch. Now, the depreciation hit me back as gain when doing the tax report. However, I reviewed th...
Aviv Peretz
S corp as a general contractor & LLC as investor
Hello , I'm a general contractor in Los Angeles (S corp) and also own 3 properties in an investments company (LLC). My S corp make much more $ than the LLC. What I need to do in order to buy properties from the S corp...