Charity / Retirement Business Plan

[Konrad Lightner]

Hey Everyone!

We feel called to and it is our business plan is to give 50% percent of the profits to charities that the tenants will choose from each month via our website. The other half will go towards the business (to acquire new properties) and our retirement.

My questions are-

What kind of benefits can we expect from giving 50% to charities?

Do you know a CPA that could help set up our business effectively for Twin Cities Area , Minnesota ?

Is there anything we should watch out for?

Thanks!

Konrad

[Account Closed]

I just want to chime in on the part about letting tenants choose the charities.  I would not expect this to go over well with tenants.  So, I suggest you just do your charitable donations privately - or at least not let your tenants know about it.

This would possibly feel a bit demeaning to them.  That they are scraping by paying their rent to you, and you're just giving it away.  They may think, "Hey, what about me as your charity?  How about you just cut my rent in half?"

Otherwise, I think it's a very kind thought for you to do this.