Anthony Freeman
Private equity partnerships
Are shareholders to take a percentage of total deductions based on their share of income on their K-1's or the full amount. For example if a shareholder owns 20% of the LLC do they take 20% of the deductions on their...
Chris Mason
420 friendly jumbo
Any of you ever brokered a jumbo loan for a full time self employed medicinal pot dealer? Who did you use?It's all legal (CA legal, anyways) and on the borrowers tax returns and all that.
Arnaud Petel
Use of tax deductions on your personal income
Hi all,I am starting my real estate investment journey and am trying to understand the impact of tax deductions. Based on my calculations my first rental property will not be profitable from a tax standpoint after all...
Matt D.
Quick section 179 question...?
Can you take a section 179 deduction for a vehicle purchase and offset taxes as a sole proprietorship? Have not been operating under a business/llc, just under my own name. Have some capital gains on short term flip...
Justine Scheuher
House hack: Pros and cons of reporting rent
Hey! Just curious what everyone is doing/has done in the past with rent. Did you file the income on your tax returns? I’ve been house hacking for 1.5 years and have never reported it. After talking with a bank..I now...
David Lehane
Help, need reliable contractor's in Kalamazoo and Grand Rapids Mi
Hi, I have been buying places to fix and flip, as well as fix and keep, and now I find myself in the need for some help with trusted, value for money contractors. I have called a few that I could find and was wonderin...
Dave Mosher
Should I take the tax deductions or claim the income?
I am closing on my first SFR on December 20th. Financing has gone great with no problems. I went through a local bank, who offers portfolio products. I was talking yesterday about what I would need in order to purc...
Jeff Klein
Deductibility of depreciation: on which property is it based?
After a 1031 exchange, depreciation is tax deductible from the income generated by the replacement property. Is the depreciation amount based on the cost basis of the old property or the cost basis of the replacement ...
Gail W.
Can I write off MORE if I have a RE License?
My husband and I own a SFR we rent out in California. We make excellent income from it, FINALLY (1st year claiming with a 1099). He works a full time job. I am the non employed half. We just had our taxes done and BOY...
James Quillen
Tax implications when living in the property
I'm trying to figure out the tax implications of the househacking method. I will be living in the basement of a property I just purchased and renting out the main house. Are there any differences from a tax perspectiv...