All Forum Posts by: Nathan G.

My Chase Business savings account pays negligible interest, and I would like a higher interest bearing account in which to place security deposits so I can keep the interest (in Michigan where this is allowed).

Where is a good place to put security deposits to get significant interest? My personal savings account is with Ally and pays 2.2% APY presently, but I cannot open an account under my LLC there. If I open another savings account there under my name it feels like commingling.

Thanks guys--

Will cost segregation end up costing me more to perform than the amount I end up saving? I closed on my first SFH on January 18, so I'm just starting out in this. But I want to deduct and depreciate wherever I can.

I'm looking for an accountant who can help me with tax questions specific to landlording, including:

• Section 179 expensing, safe harbors, bonus depreciation

Will most accountants be very familiar with these, or should I seek someone with proficiency specifically in real estate?  I've done initial consultations with a couple now, and my impression is they do not seem expert in the above areas or perhaps completely unfamiliar.

Thanks for the replies.

My question simplified is--how much time and money do 1099s require to complete and file?  I would prefer to avoid that and have the payment processor do the 1099-Ks.  I'll ask an accountant later this week as well.

I would like a contractor to do some tree work on my first rental next week.  The quote is $1900 cash or check.  I just learned about filling out a form 1099 for contractor payments of over $600.  It looks like I can avoid the form 1099 if I pay by credit card or Paypal, which I am tempted to do.  However he will charge more in that case.

How much extra is it worth paying by credit card to avoid the form 1099?  I also get 1.5% reward on my card and it's easier tracking credit card expenses.