Hannah Potter
When to hire a CPA?
19 April 2024 | 15 replies
@Hannah Potter Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.
Jennifer Taylor
What strategy for 300K?
18 April 2024 | 10 replies
Would love to get seasoned investors' advice on how they would solve this investment/tax challenge: I am about to transfer 300k from a retirement vehicle so that I can use the money to retire early.
Jason Turgeon
Real Estate Software Roundup (long)
20 April 2024 | 33 replies
They also cap ACH transfers in at $5000/month, so if you're in a high-rent market you might not even be able to accept all your rents from a multi-family property through their system.
Lynette Guy
Leaving Evolve Vacation Rental
17 April 2024 | 35 replies
Lynnett, how do you transfer your reviews from evolve to your own listing on Homeway/VRBO???
James Wise
NAR Lawsuit Settled! Offering Buyer Agent Commissions in the MLS now Illegal!!!
25 April 2024 | 209 replies
If it's a cash person, we add the fee on top of sales price to allow a slightly lower sales price to save on the transfer taxes.The only time we charge a retainer is for out of state buyers.
Nolan Madden
Landlord Breaking Lease and Buying Me Out Before Occupying
18 April 2024 | 2 replies
I have signed a lease and transferred payment of 1st month's rent and security deposit to the landlord.
AJ Wong
Would you sell a house for Gold or Bitcoin and how?
17 April 2024 | 5 replies
The primary challenges would be about the safety of settlement transfer for a physical currency transfer (like gold) and the specificity of timing and valuation of transfer in digital assets.
Paul Winka
Refund of 8% Maryland withholding for non-residents?
17 April 2024 | 3 replies
Here is a link to the Comptroller's guide to the non-resident withholding, which may have answers to your questions: https://www.marylandtaxes.gov/forms/current_forms/withholdin...If link doesn't work the document is called "MARYLAND'S WITHHOLDING REQUIREMENTS for Sales or Transfers of Real Property and Associated Personal Property by Nonresidents" which you should be able to Google.Good luck.
Aaron D Young
RE fees to consider if FSBO
17 April 2024 | 9 replies
Transfer taxes, recordation taxes, lenders title insurance, owners title insurance, closing fees, lender fees, appraisal, survey, deed prep, recording fees, insurance, escrow
Hannah Joy
Overextending? Need advice from the old timers
18 April 2024 | 26 replies
Being leveraged for a bit isn't the end of the world - there are usually options available if push comes to shove - 401k loan, personal loan, sell stocks, credit card (then balance transfer continuously until you can pay the balance off) and lastly sell.