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2 July 2024 | 1 reply
There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed.
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2 July 2024 | 2 replies
There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed.
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1 July 2024 | 2 replies
Agreed with Account Closed - putting real estate, or a real estate partnership - within an S-Corporation provides effectively no value, while creating significant headaches and tax consequences.The only real benefit left for an S-Corp is partial shielding of employment taxes - but a rental property already doesn't produce any self-employment taxes, so the one benefit already doesn't apply to the rental.Then you have problems with not getting basis in the debt of the property, having a lack of flexibility on future structure, issues with distributions in excess of basis...just nothing about it is good.If the Partnership hires a property manager, and that property manager ends up being your S-Corp - great, now you are perhaps better managing your exposure to self-employment income as a result of these property management fees.
2 July 2024 | 8 replies
She should.Then you could 1099 her and not worry about payroll taxes - for agent-type services.For the maintenance work she does, also 1099 her by having her bid each job separately.Of course, speak to your tax professional about all this first, to make sure this would all meet IRS self-employment requirements.
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2 July 2024 | 3 replies
Your rental income depends on your tenants remaining employed and paying rent.
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30 June 2024 | 4 replies
I'm focusing on lead acquisition to offer creative financing solution. open to approach methods and learning rehab cots"Sub-to and seller finance with no money" are attorney bait.
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1 July 2024 | 3 replies
If your employer was not owned by you or a family member that sort of self dealing would not be possible.
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2 July 2024 | 1 reply
-the tenant is a friend of mine, and I believe his car and address for employment and bills is still listed at his parents' house a few cities over.
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3 July 2024 | 14 replies
Paystubs and / or double check their offer of employment with their employer.
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2 July 2024 | 7 replies
Also another reason people can need to pivot from utilizing conventional loans is their DTI gets capped or they are self employed and thus despite having ample liquidity to conduct the transaction they’d trying to do, can’t document income to the lender’s standards.