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3 February 2025 | 3 replies
but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips) a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor) in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.
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3 February 2025 | 47 replies
Lots of depreciation you will pay no tax maybe even shield some W2 income.B. 8k maybe 10k if you pick the right guy to lend your money to in interest income you will be paying much higher tax rate on this income FYI no depreciation expense.
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4 February 2025 | 24 replies
My tenants had late payments, but they were eventually made whole—credit where credit is due.Another standout moment was in 2021 when a major winter storm hit the area.
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5 February 2025 | 17 replies
Using a smaller bank or credit union is the way to go.Being that you have been in business for 10 years I am VERY surprised your business banker can't help you!
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23 January 2025 | 15 replies
They always make sure to have line(s) of credit to get them through challenging periods.
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12 February 2025 | 156 replies
If you never sell, (you will it to your offspring) you never pay tax and they don't pay tax.
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30 January 2025 | 6 replies
Best to check with a tax pro to ensure compliance!
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8 February 2025 | 12 replies
If you sell it, you get $250k single / $500k married exemptions from capital gains.Speak with a tax professional about how much you'll save in taxes by doing this.
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21 January 2025 | 4 replies
Check credit, income, and rental history.
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2 February 2025 | 2 replies
I'm looking for the cleanest & most visible way to access payment history, see amortization schedule, tax documents, etc- much like bank softwares provide.