Eric Sato
STRs as a married couple, tax strategy
Hi! My wife and I are hoping to close on a SFH soon with the intent on doing an STR! I have a tax question / real estate professional question.I myself have a W2 job and my wife is a stay-at-home mom (no income). My t...
Dennis McHugh
Real estate professional tax question
Hello,I have a question about a strategy. Can you buy a house in an "Opportunity zone", rent it short term for the rest of the year. Get 100 hours of participation to become a real estate professional. Bonus depreciat...
Steve Yoo
Mentioned
since I'm new to BP. I don't know how to mention to someone. I see people mention to me. Please advise....Thank you
Renee H.
Passive vs non-passive activities (material participation)
Hello everyone!
I'm reading a lot about passive vs non-passive rental activities and cannot really find a clear explanation.
This publication from the IRS says:
1. "Material Participation: A trade or business activ...
Jay Hinrichs
BP Etiquette
What is proper etiquette for1. when someone votes for you I have 370 plus votes in 896 posts in 5 months and have never acknowledged anyone who voted for me.. Is this rude or just the way it is.2. Following is it pro...
Himavant Kurnala
401k in service alternate rollover
I came across this company which facilitated in service alternate rollover. https://inservicealternaterollover.com/about-us/contact-us/
This company facilitates 401k roll over while I am still employed with the emplo...
Michelle Au
Material Participation in Rental Real Estate
Under Sec 469: A taxpayer qualifies as a real estate professional if (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or bus...
Account Closed
Short term tax deductions only applies the first year?
I heard that short term loophole is a one time benefit that you get the year you start service. The following year would be considered passive, so even if you materially participated, it would still be passive the fol...
Jason Smith
STR Operating Model for Tax Benefits
Hello All,
I wanted to get some feedback based on a recent discussion with my CPA. I have a STR property that is in a FL land trust and I set up an LLC to property manage this property (collect rents, etc). I self m...
Stephen Sawrie
"real estate professional" designation
so i have read and researched this designation for some time now, and even obtained good info from one of the forums' resident tax experts Steven Hamilton, II, but i am just curious how many out there are actually usi...