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13 July 2024 | 6 replies
Mind you, all of my properties are worth more than their appraised value now, but during the Recession the City Manager got the bright idea that the way to easily raise revenue was to raise the appraisals, and they ended up higher than the resale value of those properties.
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14 July 2024 | 17 replies
While the scenario above will limit liability, your name is still all over the LLCs, so anyone looking to find you can do so easily.
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14 July 2024 | 17 replies
High W-2 wage earners are generally more lender friendly as it's the 'most' consistent and/or easily documented.
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13 July 2024 | 10 replies
This can easily result in a situation where some states never collect tax revenue and other states collect more than they deserve due to mis-allocation of passive losses.For NC, it doesn't appear that the state tax code addresses this situation."17 NCAC 06B .3904 TAXABLE INCOME OF NONRESIDENTS AND PART-YEAR RESIDENTS(a) Nonresidents and part-year residents shall prorate their adjusted gross income, adjusted as required under G.S.105-153.5 and G.S. 105-153.6, to determine the portion that is subject to North Carolina tax.""
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13 July 2024 | 5 replies
If you're serious about this, you should definitely consult an attorney.I am not one, but here are some things I've learned from playing around with these types of things:--Trusts are excellent vehicles for anonymity--You can hire a professional fiduciary (like an attorney) to act as trustee so the public contact is not easily affiliated with you.
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12 July 2024 | 16 replies
Some use Google spreadsheets that way you can keep track of your expenses and income easily.
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12 July 2024 | 7 replies
I could easily see them raising the taxes to 8-12% within a few years.
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19 July 2024 | 100 replies
The problem is if the buyer starts asking a bunch of questions of the agent and follows up and starts treating that agent as if they are their agent, then it might cross over into implied agency at that point if the agent starts doing work for them that a buyer's agent usually does (which showing properties does fall into that category so you can see how it can easily create a situation where the agency relationship is murky without a signed agreement).
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13 July 2024 | 9 replies
You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software.
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12 July 2024 | 9 replies
Ask a tax pro for that one but, I have many clients that have done it very easily.3.