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23 January 2024 | 14 replies
They can help you with the following: Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes through out the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level …..
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3 January 2024 | 18 replies
VRBO is a great next step, especially if you're totally optimized on Airbnb and are getting the most out of it that you can.
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7 November 2019 | 42 replies
Be OK with the fact that you may pick sub-optimal investments in a sub-optimal niche.
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20 November 2022 | 30 replies
I’m very happy to hear your optimism for appreciation and that you’re seeing transplants.
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26 December 2023 | 132 replies
Most residential remodelers have OPTIMIZED there systems to deliver everything needed, cut-out all things un-necessary, so to reduce cost's there in reducing price, to give YOU the consumer a better service price.
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12 February 2024 | 11 replies
@Darian Gore Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.
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11 February 2024 | 2 replies
With Prop 1 nearly mortgage-free and roughly equivalent in value to Prop 3, I'm pondering the best way to structure these assets and the new development for optimal tax impact, equity maximization, and risk mitigation.Considering a New StructureOne idea is to create a trust or family limited partnership (LP), incorporating an LLC to hold these properties.
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19 January 2024 | 7 replies
So for your strategy to be optimized you would need a SDIRA with a good amount of funds in it to operate.Do you possess sufficient equity in your primary residence to obtain a Home Equity Line of Credit (HELOC) for the initial down payment and renovation costs on the new property, with the intention of refinancing after completing the project?
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15 January 2024 | 13 replies
@Curt Bixel Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid this expense.
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9 August 2019 | 103 replies
Am I optimizing for full time in my business?