All Forum Posts by: Account Closed

take a look at this article I wrote on the short-term rental loophole. that maybe able to help. You maybe able to get away with "material participation" and leave it at that.https://www.biggerpockets.com/forums/617/topics/1161394-call...

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Quote from @V.G Jason:

Quote from @Account Closed:

If you pair the dropping of the rates and same amount of inventory with letting the population get used to 6-7% rates then drop them back in the 5's the market will be flooded with buyers again.

100% agree here. To much cash on the sidelines to expect a huge drop in the near future IMHO

Cash on the sidelines isn't going to get invested in residential RE. The cash that is going to get invested in residential RE is already employed by buying properties with limited to no leverage. If cash on the sidelines comes into RE-- it's cause there is a crash or a massive correction.

Cash will be getting progressively tied up in debt funds, small cap growth opportunities, international investing, basic S&P and some held for a short-term debt basis to enter CRE.

You think everyone just stock piles cash for RE? Come on, the smart money is betting on a dip or if no dip you lock in high yield debt funds at the turn of the rates and investing in small cap areas that need to tighten to the large cap ratio wise. The American market isn't strictly RE driven.

I think there is a bit more nuance here, tho I see what your saying.
"If cash on the sidelines comes into RE-- it's cause there is a crash or a massive correction." - I do think this is largely incorrect, take a look at the CA real estate market for example. Folks with deep pockets are more then willing to buy stuff at 4 and 5% cap rates right now as is.

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Fayetteville, Arkansas

I would highly recommend working with a tax professional who also does accounting who is specialized in this area. I can't tell you how many people have "real estate CPAs" who come to us with old tax returns where there are mistakes all over the place!

Transparently I own an accounting firm that does just this, so I'm a bit biased! However I will say that picking the right accountant should save you a lot more then it costs you.

P.S: Happy new year!

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Houston, Texas

At a certain point, it may make more sense for you to just have an accountant do it for you! The monthly cost of quick books online maybe similar to some accountants, so you wont be loosing out on a lot of money and getting a lot more of your time back. Just something to consider!

transparently, we specialize in accounting and tax prep for real estate investors, so perhaps im a bit biased!

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Quote from @Kymberly Chase:

Yes I definitely would be open, I don't think my CPA is savvy with STR tax loopholes whatsoever

We specialize in working with folks like you who have investing strategies based on real estate and are very familiar with the STR tax code. If you would like to connect I'm sure we could help, and even look at prior year's tax returns to see what he may have missed. The last person we did this for we found a boat load of missed tax savings the IRS is now writing him a check for.

Checkout my profile its got our website there, you can fill out the "contact us" form and we can get started! We don't charge upfront for any consultations/review of prior tax returns so you can see the value before you pay =)

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Jacksonville, Florida

Hi Matthew, checkout this post i just did on this subject:

https://www.biggerpockets.com/forums/617/topics/1161394-call...

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Savannah, Georgia

Quote from @Dan Lambert:

I don't have an LLC set up yet but we have been working with a lawyer to set one up. It is just my wife and I.

Hey Dan, we can help setup that LLC for you at a much lower cost then a lawyer doing it if that's a route you want to explore. we primarily work with folks investing in real estate for tax preperation and advisory. Please consider giving us a look! taxwisecorp.com

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Orlando, Florida

We have over 6000 clients, many of which are not in the state we have our office. We primarily work with folks investing in real estate. Please consider giving us a look! taxwisecorp.com

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Charlotte, North Carolina

I know this is an old post, but we specialize in folks investing in real estate. Please consider giving us a look! taxwisecorp.com

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Hi Ana, we specialize in people with small businesses investing in real estate, if that's a fit for you please let me know!

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El Paso, Texas

All Forum Posts by: Account Closed

Account Closed has started 22 posts and replied 1212 times.

Post: Leveraging the short term tax loophole for cost segregation qualification

Post: Rates droping a good thing?

Post: RE Tax and Portfolio in multiple states

Post: How do you do your accounting?

Post: Purchasing New Build as Investment property/tax shelter

Post: Short Term Rental Loophole

Post: Tax Professional and Strategist needed

Post: Which state should I seek out a CPA?

Post: How do I find a CPA with real estate investing expertise

Post: CPA Recommendation in El Paso TX