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All Forum Posts by: Jeff Nash

Jeff Nash has started 1 posts and replied 372 times.

Post: Starting to invest in New Jersey. Need a team HELP

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Brian Perlman can help.

Post: What Insurance should I get for my fix and flip house?

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Stanley J Black can help. 

Post: Insurance for Flips

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Stanley J Black can help.

Post: Any recommendations for a mortgage broker?

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

UMortgage is great and a national broker.  @Tyler Hodgson would be the best resource.  

Post: For Sale Single Family Property in Frisco, TX

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Whitney Nash can help you with this perhaps.  We are in McKinney.  

Post: Maximizing W2 Tax Deductions - Quit second job or keep working 2 jobs or STR?

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Angelo Cortez yes it is, and that is a key reason for that type of investment whether you are W-2 or have other significant taxable income you are trying to reduce.  Like I said it is not as well known of a tax strategy, but highly effective. I worked for 2 HNW families in the past and have an O&G background.

Post: Maximizing W2 Tax Deductions - Quit second job or keep working 2 jobs or STR?

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Michael Plaks gave great advice.  

It's been mentioned a time or two on here, but another option you don't list and that may be helpful for higher earning W-2 folks (or accredited investors) is to invest in oil and gas.  There is accelerated write-off for intangible drilling costs (IDC), lease and well equipment and percentage depletion.  It is a good choice from a tax perspective, but from an investment standpoint you have to do due diligence, more so than with other types of investments.  I'm an advocate of it in the right situation, with consideration given to someone's risk tolerance, investment objective, time horizon, etc.    

Post: S-Corp for rentals and flipping

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

I'd have a separate LLC (taxed as S-Corp if profitable enough) that does the fix and flips and one or more for the rentals depending on the number and geographic location.

Post: Self Directed IRA for Fix and Flip

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Brian Eastman provided good feedback on your inquiry and is spot on.  There is a way to limit UBTI if you choose to do flips to the extent it rises to the level of a business activity, but it might not be worth the effort and requires a complete evaluation of your financial and tax situation. 

Post: Newbie moving to NJ, looking for invester friendly realtor, mentor for buying a multi

Jeff Nash
Posted
  • Accountant
  • McKinney, TX
  • Posts 389
  • Votes 575

@Brian Perlman might be able to help.