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12 February 2025 | 9 replies
The employer knows they won't report it to anyone for fear of losing their job.
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19 February 2025 | 9 replies
Full work history with no employment gaps since October 2023.
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7 February 2025 | 17 replies
They must be exclusive to your properties ("your" as in the company that employs them).
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7 February 2025 | 9 replies
Managing self-employment income requires tracking eligible deductions like business expenses, home office use, and retirement contributions.
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15 February 2025 | 12 replies
If you're this far along I'd call the employer anyways.
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19 February 2025 | 15 replies
Quote from @Havital Miltz: Normally you would set the LLC in the state where the property is.You have no tax benefits for setting up an LLC, it is more a protection from lawsuits and going after your personal assets, however not a guarantee....As a husband and wife you do not need to set up a partnership - IRS has special considerations for married couples for self employment, you could also apply that for a rental...Hope that helpsA joint venture is available to any 2 people co-owning real estate for investment purpose as tenant in common under Proc. 2002-22 (unrelated to marriage) but it can't be owned in an LLC together.
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15 February 2025 | 14 replies
Interest rates and cap rates change, competition changes, your PM ends up being horrible, lots of variables.Just to throw you a monkey wrench, in your killer spreadsheet does it include the credit score, income, and employer of every resident?
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30 January 2025 | 6 replies
They lower taxable income for federal taxes but not for FICA.However, employer contributions made by the S-Corp are not subject to FICA and count as a business expense.Make sure your W-2 correctly reports wages, deferrals, and FICA wages.
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6 February 2025 | 9 replies
I love that you’re already narrowing down specific zip codes and doing your due diligence.I’ve heard good things about 73170 and 73135, especially with the proximity to Tinker Air Force Base, which tends to attract stable tenants.
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5 February 2025 | 2 replies
It has been best to anticipate wildly different ARVs based on not only the property details, but also the quality of the finishes that are used.