Misclassification can lead to tax penalties.Donating to a church is fine, but tax-deductible donations have limits (usually 60% of AGI), so sending all wages wouldn’t fully offset taxes.

.), and the Landlord assumes no liability for such loss.

Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

These folks do not need to be licensed but there are limits on what they can and can't do, and they have to be salaried employees of the owner or report to a licensed property manager.

A partnership vs. disregarded LLC warrants consideration- you face different reporting requirements, limitations, etc. 

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Are there any questions you'd suggest asking to better understand this loan structure and its potential limitations?

I used to believe that the limit is $500,000.

One of my favorite states for OSS investments is Florida. I own two properties there, but insurance costs have skyrocketed.Lately, securing home insurance has become increasingly challenging due to the high risk of hu...