Eddie Pietschmann
How do I decrease my taxable income?
Hi Everybody!I am trying to find some ways to decrease my taxable income this year. This may be completely impossible, but here's my situation...Currently I am 1099 (agent) and I have a tax bill that I would rather du...
Eve W.
Real estate loss in 2013, could it be carried over to 2014?
My real estate wholesale business had a loss of over $8K in 2013 and I was/am not a RE professionals regards to IRS terms. I had profit in 2014 for wholesaling of over $15K. Could the 2013 loss be carried over to 2014...
Rob Hendricks
Do carrying costs increase cost basis?
I'm having trouble finding a definitive answer on this. Assuming I purchase a house with the intent to fix and flip in a 6 month window, do the carrying costs I pay increase my cost basis, such that my taxable profit ...
John Teachout
Fed tax disparity between 2021 and 2022 based on taxable income
I'm pulling my hair out over this years (2022) taxes. (turbotax)I've worked through all the Federal taxes and in 2021 I had an AGI of $111387. My taxable income was $75202 and fed taxes were $3504. For 2022 my AGI w...
Brendan M.
What are the tax implications of paying myself to property manage?
I just bought my first multifamily property and I have been thinking about how to maximize my tax benefits on it. If i can write off property management fees as an expense, can I pay myself (either as a sole proprieto...
Donald D Michna
Capital gains taxes after retirement
I was speaking to someone about there rental property and they mentioned that if they sell one of their rental properties after they retire or have of income of less than $33k a year that they do not have to pay capit...
Steve S.
Tax question on rental income
I'm trying to get a better understanding of how much of my rental profit I may be able to keep. If my AGI is $150,000 and my rental profit is $24,000 for the year, after paying the PITI and expenses, in a rough estim...
Rashad S.
Decreasing My Property’s ASSESSED value
Does anyone know any strategies that can be used to decrease my property’s assessed value?
Jake Hartnett
Calculating After Tax ROI
Everyone says real estate is a tax haven, but I'm wondering exactly what people mean when they say that. In my analysis I see real estate income taxed at a lower rate than my W2 income, but not decreasing my overall t...
AJ Smith
Solo 401k Eligibility
I have done some searching on solo 401k eligibility, I have a couple main questions. For context, i own several small multifamily units that i self manage without employees and am interested in tapping into the tax in...