All Forum Posts by: Susan K.

Toby Mathis on YouTube summarizes and teaches it very well. He makes it sound simple because it is. https://www.youtube.com/results?search_query=toby+mathis

Ok, I will watch that. Thanks so much.

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Thanks for the advice. I will look into this.

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Hi,

We have a revocable living trust. Do any of you hold your BRRRR rental properties in your trust? If so, did you create a second separate trust just for the rentals? Just trying to figure out if we should put them in an LLC, put them in our personal names (for easier financing), and/or put them in our trust.

Also, if you are buying them in an LLC are you using an S Corp?

Thx.

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Thanks Jason for the response. More money going to the IRS. Ugh.

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Ashish, Thank you. Yes, we found out and you are correct. Thanks for the response.

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Quote from @Ben Trageser:

Thanks for the response. That is what we thought, but are being told we have to pay SS and medicare on this now even though it is "deferred."

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Hi Everyone,

We are business owners (construction co) classified as S corp, 2 members - paid with W2 income from the business.

We deferred salary for 2024 to a Solo 401K. Are we required to pay FICA tax on the deferred income? We are getting conflicting answers on this.

Please advise. Thanks.

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Quote from @Peter Walther:

Most of the Standard Exceptions on an Owner's Title Policy will be deleted if certain title evidence is provided at closing. For example, if an acceptable survey is provided, the Standard Exception for survey matters will be deleted from the policy but a special exception for any matters shown on the survey will be taken. Ask a settlement agent for more details about what they would require to delete them.

I believe the Enhanced ALTA Homeowner's Policy is not available in Florida because it contains certain affirmative coverages that insure against matters that may occur in the future. That's considered casualty insurance which title insurers are prohibited by law from providing.

Thanks for the info.

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Quote from @Chris Seveney:

@Susan K.

Have the buyers pay the delta.

Ok, thanks.

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Russell, would that also be called an "expanded rate?" The policy without standard exceptions?

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All Forum Posts by: Susan K.

Susan K. has started 22 posts and replied 185 times.

Post: Holding your BRRRR properties in a trust

Post: Holding your BRRRR properties in a trust

Post: Holding your BRRRR properties in a trust

Post: Q on deferred salary to a Solo 401K

Post: Q on deferred salary to a Solo 401K

Post: Q on deferred salary to a Solo 401K

Post: Q on deferred salary to a Solo 401K

Post: Quick question on title Policy - need help ASAP

Post: Quick question on title Policy - need help ASAP

Post: Quick question on title Policy - need help ASAP