Peter M.
Are late fees considered taxable income?
I know deposit money is not considered income unless you keep the deposit at the termination of a lease but how do late fees factor in to taxes? Are they simply added in with the rest of your rent rolls? I guess the s...
Drew Shirley
Taxable Event? Reinvesting Acquisition Fee as Equity
I'm working on my first apartment syndication and would like to re-invest part or all of my acquisition fee into the project as more "skin in the game." Is there a way to do this without paying taxes on the reinvested...
Josh Corby
Wholesale Fee Taxation
Hey Guys, quick question regarding the taxes I will pay on wholesale fees. I plan to have a separate SMLLC for my wholesale business. This LLC will be taxed as a sole proprietorship starting out. What are all the...
Thoai Han
Assignment Fee Tax?
If I wholesale a property without an LLC, how would I be taxed on a percentage basis? I can't deduct my marketing expenses. Its almost the end of the year and I am concerned.
Daniel G.
Acquisition Fee Tax Treatment
Hi BP Community, As sponsor what is the tax treatment of acquisition fees assuming that you reinvest them as equity? I've heard both sides of the argument saying that they are either treated as ordinary income or are ...
Brandon Shaw
Attorney fee tax deductions
Hello all,
Because I'm a new buyer and located out of state from my property, I used a Power of Attorney (POA) with my lawyer to sign and review all my documents in WA State for me. I have to use him for purchasing ...
Sandra Hale
Are Late fees on Notes considered income and taxable?
Hi,I have some notes and the borrower is typically late paying. Therefore they pay the monthly note (principle and interest) plus a late fee of 5%. Do I need to include this late fee as income/interest on my taxes?
Lei Zhao
Leasing Agent Fee Tax Deductions
Hi Everyone, I'm new to the bigger pockets forum. Since the tax season is right around the corner, I'm wondering that how can I write off my leasing agent fee? I worked with one for the leasing agents at Austin area,...
Charlotte Dunford
Syndicator's acquisition fee tax deductions
Can you deduct operating expenses from acquisition fee received? Let's say you received $30,000 in acquisition fees, the first year operating expenses of the property is $45,000. Can you deduct all of that? Or do you ...
Mike Penn
Flipper Analyzing my first Multi-family Deal
Hey everyone-My wife and I recently were approached by someone who offered to sell us their 4-plex in Dexter, MI. Dexter has been one of the fastest growing markets in Southeast, MI and is a great little town. My wif...