All Forum Posts by: Fulton Abraham Sanchez

I am looking for a tax (guy or gal) to help me plan for the future with real estate investing in the Jacksonville area. Any assistance will be greatly appreciated!!

You've come to the right place! There are over 20 active CPAs/Accountants in these forums assisting real estate investor nationwide. Make sure to reach out to one with real estate experience. E-mail them to set up a consultation call.

1 Vote

Jacksonville, Florida

@Joey Harris, hi. You've come to the right place. We are a community of real estate investors and other professionals including CPAs assisting RE investors nationwide. Most of us work remotely. Make sure to reach out via email to set up a consultation call. Best, Fulton

0 Votes

@Lor Fara, hi. You've come to the right place. There are over 20 of us CPAs in these forums assisting Real Estate investors nationwide. Make sure to reach out to one with real estate experience, as location is not a problem these days. Preferably contact them by e-mail to set up a consultation call.

0 Votes

Hello Linda, you've come to the right place. There are over 20 active CPAs here in Biggerpockets assisting RE investors with their tax planning. Make sure to reach out to one with real estate experience to provide the best solution for you.

0 Votes

Raleigh, North Carolina

@Jason Baker, hi. There are over 20 active of us CPAs in these forums assisting Real Estate investors nationwide. It is recommended to look for one with Real Estate experience. Please e-mail us your inquiries preferably.

0 Votes

Orlando, Florida

@Fabian Jimenez, hi. You've come to the right place. There are over 20 active of us CPAs in these forums assisting Real Estate investors nationwide. Make sure to reach out to one with RE experience and check out their profiles to set up a consultation call via e-mail at your convenience.

Good luck!

1 Vote

Phoenix, Arizona

@Brad Tarry, hi. You've come to the perfect place. We are over 20 experienced CPAs active in these forums, many of whom specialize in assisting real estate investors like yourself. We offer comprehensive tax planning and strategies, providing valuable insights that go beyond mere tax preparation. Finding a CPA with real estate experience is important as location is not a problem these days.

Feel free to send me an email with any inquiries you have.

0 Votes

@Angela Carter, hi. You've come to the right place. There are over 20 CPAs active in these forums. Most of us assisting RE investors across multiple States. Make sure to reach out to one with real estate experience as location is not a problem these days. Please feel free to send me an email with your inquiries.

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Quote from @Sudeep Raj:

CPA/Tax Strategist in Austin, TEXAS area?

@Sudeep Raj, Hi. There are a few CPAs active here in these forums. Make sure to reach out to one with real estate experience as location is not an issue these days. Preferably contact us by e-mail as we are not allow to self promote.

0 Votes

Quote from @John Hua:

Hi all,

Me and my wife live in our SFH full time for the past year. In the upcoming year, we are getting roommates to help with expenses while continuing occupying as primary residence. We have ~400k in gains after improvements. My questions is how does section 121 apply in our situation(married couple)?

-If we sell after year 2, do we claim 250k(yr 1) and 125k(yr 2 with half the house rented) for total deduction of 325k gain?

-What happens if we continue to rent out half the house, does at some point we get to claim the full 500k deduction?

or is it calculated differently entirely?

Thanks in advanced!

John

If primary residency you can claim the tax exemption, but need to report rental income and pay taxes for that.

Please see Topic No. 701, Sale of your home | Internal Revenue Services
https://www.irs.gov/taxtopics/tc701

1 Vote

All Forum Posts by: Fulton Abraham Sanchez

Fulton Abraham Sanchez has started 2 posts and replied 185 times.

Post: Tax Planning & Accounting

Post: Long Term Strategy for Real Estate Professional

Post: Entity structure for out of state LTRs

Post: Seeking a REI friendly CPA

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Post: CPA

Post: If you use a CPA or Tax Professional, how did you find him or her?

Post: Section 121 question