Scott Schnabel
New Regulations in the City of Cleveland
3 January 2025 | 18 replies
Some info below:https://www.clevelandohio.gov/sites/clevelandohio/files/Loca...From the City of Cleveland website:"The City of Cleveland’s definition of “Local Agent in Charge” is in Cleveland Codified Ordinance § 365.01(k).
Reeti Peshawaria
STR regulations for a new market
29 December 2024 | 11 replies
Obviously do your own research before asking people on Facebook, but just another way to connect with hosts and see what they do and how they file those STR taxes and maybe some additional helpful info.
Melanie Baldridge
“active income” and “passive income"
20 December 2024 | 0 replies
There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.
Greg Weber
Has anyone done business with this company or person
19 December 2024 | 37 replies
I am in contact with an attorney in RI and we are looking at possibly doing a joint filing against Teshaw.
Keith Miller
How to skip trace LLCs?
23 December 2024 | 8 replies
Hey Keith,Usually, LLC's have to file contact information with the state, either an email or a phone number.
Yonathan Cabrera
Locating Gap Funders?
22 December 2024 | 7 replies
This gives them significant control and security.Joint Venture Agreement with Personal Guarantee: We establish a Joint Venture (JV) agreement that includes a personal guarantee, providing an additional layer of security for our investors.Memorandum Filing: We file a memorandum in the county where the property is located.
Landon Sheveland
LLC for Renovation Costs
23 December 2024 | 3 replies
When selling a primary residence you have lived in 2 of the previous 5 years you get a tax exception on profits of $250k for a single person and $500k for a married couple filing jointly.
Cory M.
No W-2, Looking for Loan Options
21 December 2024 | 14 replies
What do you file for this "income overseas," do you file SChedule C self employed on your personal 1040 tax returns ?
Carl Rowles
Flooded House-Plz Help
29 December 2024 | 14 replies
.- Check with your insurance agent ASAP.You'll need to file a claim and get a claim number.Try to get an insurance adjustor in ASAP, so you can start pumping water out, removing all water damaged drywall and get dehumidifiers in. - Note: the insurance company's adjustor will try to minimize your claim amount.
Tom Gorrell
Fair Price for CPA to do taxes
19 December 2024 | 25 replies
The syndications might be invested in multiple states which will require multiple state return filings which add to costs.Are you getting any consulting throughout the year?