I just started my llc October of this year through the state of texas. if I don't receive any funds this year or do a deal this year do I have to file taxes? ive spent money on starting the company and filing and mark...
What % should I be setting aside for Federal Taxes on a flip that takes 4-5 weeks? This would be our first rehab and we may do one or two more this year. Does that fall into the "investment" category with a lower ta...
A property just sold at auction that has a 60K federal tax lien. I have been to the IRS website and I am familiar with the 120 day timeline for the IRS to redeem the property.
Has anybody ever successfully purchased...
Hello Biggerpockets! I am currently looking into purchasing a 6 unit multifamily in upstate, NY and I just wanted to see how the taxation works if anyone could help me out and let me know what the percentages are? Tha...
So i'm researching properties to buy at the county foreclosure auction. I came upon one that looked promising (like 40k difference in lender's max bid and value) but when I searched the title I found like 35k in fede...
Hello I would like to know if anyone has filed for a Release of Lien using the 10 year statue of limitations and if so how long does it take to file
In a mortgage foreclosure, if the owner being foreclosed on has federal tax liens filed against him, will the property remain subject to all or a portion of the federal tax liens once a foreclosure sale is completed?M...
In a mortgage foreclosure, if the owner being foreclosed on has federal tax liens filed against him, will the property remain subject to all or a portion of the federal tax liens once a foreclosure sale is completed?
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Hey BP Nation,
This might be stale news to some, but I just wanted to share a few tax changes I have been sharing with my clients and thought was interesting. As the title reveals, they are Federal changes with one ...
What is the tax rate -income tax- for renting property? Is there a State and Federal income tax? I know some states don't charge income tax on rentals, but you still have to pay the Federal income tax?Can you get a be...