Account Closed
Im in a scary jam! Michigan kid needs some serious legal/tax help
Im getting straight to the point. 1. After reading the blog "The IRS Hit me With a $10,000 Penalty--and it could Happen to you, Too!" I literally have the same problem I have a LLC with no account history not even a b...
Bob M.
FCI exchange no longer facilitates buying/selling land contracts
hi everyone,i bought a performing CFD on FCI last year for at about 70% UPB, have been sitting on it collecting payments for a year and recently got a bite to sell it at 88% UPB. I was happy to make the sale but half...
Quintessa Haynes
Proof of Funds
Good morning Investors!Is there a way that I can put in an offer for a property on the MLS without a proof of funds letter? My intentions are to assign the contract to an investor.Please advise.
Robert M.
Parents loaned me down payment for duplex, I sold it, now who pays capital gains?
In 2016 my parents loaned me the down payment for a rental property ($150k toward a $600k duplex in a midsize East Coast city). There were no formal terms or expectations - it was just "here's the money, don't be dumb...
Eric P.
Impending unemployment Tax Bomb and Liens?
Any suggestions on how to learn more about tax lien investing?I'm expecting a major tax bomb impacting millions of Americans to hit Q1/Q2. You can't hand out $700 of state unemployment, $600 federal, with hold $0 tax...
Jerid Meagan
Has COVID-19 impacted your 1031 Exchange?
I'm curious to know if anyone out there was actively working on a 1031 Exchange when COVID-19 hit. Given that timing is so critical in this situation, were you able to find a property or are you going to change your s...
Matt Streeter
Capital gains if you're still in the negative?
In January my wife and I purchased 130 acres of land, for 480,000$. we are going to sell two 10 acre building lots, probably for somewhere between 100-150,000 each. we will keep the other 110 acres. 2 acres we will ...
David Alejandro Hernàndez
Buy 2nd house, IRS debt, 1099 wage, best money allocation, advice needed.
My name is David, I'm 28 years old, working as an independent contractor. I currently earn about $7,000 per month, working 50-55 hours a week at $34/hour. I'm also in school to advance in my field, which could increas...
Ibrahim Hughes
Shorting IRS Liens?
Although I have no experience in this area, I've heard that IRS liens can be shorted. If true, what is the process. Got a 7 year old $30k irs lien against a deceased borrower.
Does anyone know what the priority of th...
Mike Nelson
IRS Penalty for late file on S corp, didt file extension
So I recieved a notice today for a $1560 fine for an LLC taxed as S corp that I started beginning of this year. I didnt file the extension, as the SCORP didnt make a dime ( im an idiot). I realized after it was too ...