Nathan M kiefer
400k bonus - tax mitigation
26 November 2024 | 13 replies
Other than reduced bonus depreciation (if you're using that strategy), without any tax law changes, rates will be largely the same for 2025 as 2024, so you may not lose much by delaying receipt of the bonus by a month or two.
Joel R.
Am I required to issue 1099s to contractors if I only have one rental unit?
6 December 2024 | 12 replies
In general, Cohan is overhyped by gurus who mis-promote it as a loophole for people who do not bother to keep records and receipts.
Raj Vardhan
Cash out Refi
9 December 2024 | 16 replies
Some portfolio or private lenders may waive this rule, so it’s worth exploring.While waiting for the 6 months, finalize renovations, stabilize the property with tenants, and ensure all paperwork (leases, receipts) is organized.
Jonathan Taylor Smith
Wake County Housing Authority Can't Pay Rent!?
19 November 2024 | 4 replies
I'm still awaiting receipt of November's rent from Wake County Housing Authority for a property in Raleigh, NC - that I manage on behalf of a client, who I aided in buying the property as his Realtor.
James Masotti
Project management software - how do you manage your projects?
17 December 2024 | 17 replies
& track my job costs against each category so I can compare my budget vs actuals and calculate the variances.For example:Electrical Budget: $4,000Electrical Actual: $6,300Variance: +$2,300This process is more tedious because you have to breakdown each invoice or receipt and allocate the costs to each Category, but it really helps you understand where you are spending your money and why you went over budget.Otherwise, it sounds like you are having trouble measuring employee productivity?
Rene Hosman
How do you do bookkeeping and financial reporting for your rentals?
4 December 2024 | 30 replies
I’m old school and pen and paper all my expenses then jam a receipt in a folder for each property.
Julio Gonzalez
Top Home Tax Deductions
20 November 2024 | 2 replies
.📝 Pro Tip: Keep receipts & records to back up your claims.
Mahender Bist
Where to form LLC for legal protection - Business in AL, Living in CA
4 December 2024 | 18 replies
California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.
Tiffany Da Silva
Advice needed on real estate LLC business banking & Organization
21 November 2024 | 6 replies
File all receipts in a dedicated Google Drive folder.
Nakul Patel
LLC formation question
19 November 2024 | 5 replies
California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.