Kristen Savino
Commercial Lenders Needed for LLC Investments
Looking for a recommendation on Commercial Lenders. Since I will be using an LLC for purchases, I don't want the hassle and expense of buying a property and then having to assign it to the LLC later (I don't think th...
Jan Walczak
(Toronto/Ontario) Selling property as principal residence proof
Hi everyone,
I'm considering selling one of my properties next year but would like to sell as principal residence to avoid capital gains tax. What documentation/proof do I need to provide CRA as means of proof?
Ex....
Justin B.
Buyer's Financing Fell Through, But There's No Financing Clause
Family was selling a piece of property, found a buyer, and his partner providing the financing fell out. The guy, who the HH agent has done business with before, says he's got property etc. so he's not a deadbeat. The...
Margarita Bozhenkova
Need advice on purchasing a property
Hello BiggerPockets Community,
I am a beginner investor and would appreciate your advice. I'm in the process of purchasing my first property which is located in CA. It's 5 acres land with the mobile home that needs a...
Daniel Hoffmann
PMI Tax Expense / Deduction on Rental Property
I believe PMI is no longer tax deductible in schedule A, but is it still a tax reducing business expense for rental properties?I found this article on the IRS website but this cannot be true.https://www.irs.gov/faqs/s...
Roy Aharonovich
Transferring property to my LLC to avoid DTI ratio
Hello,
I have a question. I am looking to buy a few investment properties, hold and rent. It looks like my DTI would reach over %50 after the first property since for my personal one I have to pay property tax, HOA f...
Alan Williams
SoloK: Allowable Deductions & Adjusted Cost Basis
A multi-part question answers or insights to which are much-appreciated ...Part 1: Deductibility of ExpensesAre ANY typically-allowable [write-off] expenses and/or capitalized/amortized expenses in a taxable context (...
Christine Garnier
Tax Certificate And Lien on Unpaid Taxes
Hi Everyone,I purchased a tax lien on a property and found out today that the name on the tax assessor's website is the name of a person who bought a tax certificate in 2020. This person failed to pay the taxes for 20...
Charles Hinson
Sales Tax on proceeds of sale?
Hi folks,I'm working on a Flip (my 1st property) with a JV Partner in Albuquerque, NM. I'm having a discussion with my accountant at the moment about sales tax. He's my personal accountant who I'm trying to convert ...
Jillian Carlson
Buying/Selling Rental properties
I am not sure what to do here. I am a newbie, and assisting a friend to sell two properties. They are in Va, and the properties are commercial with full tenants. There is a row of townhouses, and a strip mall. It is a...