Melissa Aguila
Ways to offset my W2 tax with my passive income
Hello All,I own 3 short term rentals that I self manage and I Also own another business where I earn my w2 income working full time.My question is from my understanding, I cannot use my passive income expenses to offs...
Jeffrey L Evans
How difficult is to get a California contractor licence?
Hello all, I am planning to start a construction agency business in the coming months. In California, to work as a contractor, we need to obtain a contractor licence from Contractors State License Board. Based on what...
Mohsen Samadani
Seeking Clarification on Material Participation Rules for STR Tax Loophole
I have some questions about the material participation rules for the STR tax loophole. I would appreciate any insights.
1- In a partnership or LLC, can both partners benefit from this strategy if they invest in the s...
Account Closed
World's first personality test for screening tenants
I'm looking for feedback to help improve a new service that I created.
[Disclaimer: this will be a commercial service from which I stand to benefit.]
I am an assessment scientist with a Ph.D. in Psychol...
Mike S.
Mega back door with multiple 401k
Regarding the non deductible amount that you can contribute to a 401k, is the amount limited by your earned income in the sponsoring business or the total of your earned income?
Lets say that you earn 100k in busin...
John Scully
House Hacking and Multifamily Rentals
Hello! I'm a newbie 18 year old investor looking to learn from the best. I've started coming on here everyday to post forums and meet new people, so anyone who'd like to throw some knowledge down the ladder to the new...
Giedrius C.
Passive investor in flipping and self employment tax
I will be a passive investor who will finance the flip and my partner will do all the work and we will split profits according to our agreement.My preferable way would be to buy it in the name of the LLC I own 100%, m...
John Irvin
Thoughts on using CARES Act 401k withdrawal for rental purchase?
I tested positive for COVID a few weeks ago. Thankfully had a mild case.I was reading that if you test positive, you qualify to take up to $100k out of your 401k without the 10% penalty. If you pay back within 3 yea...
Jason Pender
Qualifying hours to obtain REP status
Hi folks,Does anyone have a cheat sheet (list) of activities that qualify for REPS? We just have one investment property today (looking to add two more this year). Jason
Josh H.
Leasing Your Short Term Rental to Another LLC That You Own
Hello,I have heard of leasing your short term rental to another LLC that you own in order to minimize tax liability from a video that I watched, but there was no information given on why this is advantageous or the me...