Question: Should my rental properties be in a land trust that is owned by an LLC? Answer: There is no income tax impact of using a land trust, or an LLC. The end tax result is the same – with or without the land trust and with or with out the LLC – all the
Question: How can I avoid "dealer" status when selling my real estate? Answer: Those who fix and flip real estate (dealers) are treated differently for tax purposes than those who buy and hold real estate (investors). There are two consequences to being considered a dealer of real estate (fix and flips). 1. The gain on
Question: How do I get approved for loans with little income on my tax return? Answer: For tax purposes, the goal is to show the least amount of income on your tax return (legally, of course), but the tax returns are almost always requested from banks these days as part of the loan approval process.
My husband works for an employer and I am taking on the real estate investing with his help. I do not earn an income from any source.
Question: How do I pull equity out of my real estate? Answer: My preference generally is more flexibility. This leans towards a home equity line of credit (HELOC). There are times that a fixed loan is preferable. If you have immediate use for all of the funds, a fixed loan is great. It's better from
Question: When do I need to have a tax advisor? Answer: My recommendation on the time to have a tax advisor is before your start your business or investing activity. There are foundational pieces of a tax strategy that work best if you do them (or have a strong understanding of when you do need
Is it true that you are not required to file a 1099-MISC form for independent contract work that was done for your rental property, as long as you are not a real estate professional?
Is there a downside to having the real estate professional designation?
What is the first thing I should do for estate planning for my 200K+ holdings in gold and silver? Revocable Trust? I am planning on investing gradually in multi-family homes.
In building massive passive real estate income, is it wise to have multiple realtors/brokers and property managers in order to increase your velocity?