Alex Messner
Purchasing first home (with debt)
16 January 2025 | 10 replies
@Alex MessnerIf you're weighing whether to rent or buy with significant student debt, it’s important to consider your debt-to-income (DTI) ratio and how it impacts mortgage eligibility.
Vidit Maini
Starting my small business
2 January 2025 | 14 replies
@Vidit Maini Starting your business as an LLC taxed as a C corporation offers flexibility but involves double taxation unless you elect S corp status, allowing profits to pass through to your personal return.For tax savings, deduct startup costs, track business mileage or vehicle expenses, and consider a home office deduction.
Jason Sung
Water leak at a bathroom and insurance claim (Safeco)
15 January 2025 | 6 replies
I have landlord insurance with deductible $2500. the house has continuous flooring, meaning the entire house has same LVP.
Melanie Baldridge
A post on recapture.
21 January 2025 | 2 replies
We generally advise our clients to go ahead and pay the recapture rates if death is the alternative.The good news about recapture - the deductions are a deferred tax liability to you, and an interest free loan from the government.
Alex Tang
Opting for Actual Cash Value vs Replacement Cost if Home Damaged by a Fire
12 January 2025 | 3 replies
If the cost of rehabbing it is more than it’s insured for, they’ll just cut me a check for what it’s insured for minus the $2,500 deductible.
Kyle Jenson
New Dentist looking to create a retirement plan for myself thru real estate
24 January 2025 | 15 replies
I buy real estate but I carry debt which is actually tax deductible, my money works for me.
Henry Clark
LA Fires Taxes and Insurance
14 January 2025 | 1 reply
Income taxes- if needed can you use your 2 year primary residence deduction if a taxable event occurs.13. 1031- if any part of the insurance claim is a taxable event is there some way to do a 1031 with lenient time frame adjustments?
Michael Klick
2025 and Looking to Invest in Real Estate
21 January 2025 | 7 replies
In some cases interest paid on the HELOC can be tax deductible if the funds are used for home improvements.Best of luck from Fort Worth!
Brandon Morgan
is an LLC necessary?
25 January 2025 | 32 replies
Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.
Krissi Miramontes
Kind Distance Frustration
25 January 2025 | 8 replies
I personally have had positive experiences with section 8 tenants because it's a long process to get the privilege of rental assistance and many people don't want to ruin it by mistreating the property that would make them eligible for eviction.I see that you're in CA, if you ever need a realtor to seek out a good fix and flip for you, let me know, I've helped plenty of people before!