
2 June 2024 | 23 replies
Consult your local laws, but you can possibly deduct the cost from your rent if they do not pay.

31 May 2024 | 4 replies
You should consult with a landlord attorney in your state to get advice to ensure you follow proper, legal steps.

1 June 2024 | 3 replies
I would prefer to manage everything through the LLC's account for bookkeeping and tax purposes.Proposed Solution:Open a new joint personal account specifically for making mortgage payments.Transfer the monthly mortgage payment amount from the LLC's business checking account to the joint personal account.Document these transfers as "Owner's Draw" or "Owner's Distribution" in our accounting records.Use the joint personal account to make the mortgage payments.Questions:For the CPAs and accountants out there:What are the tax implications of this approach?

1 June 2024 | 7 replies
If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

29 May 2024 | 27 replies
I had two consultations with Kirt Bassi from WealthAbility program.

1 June 2024 | 5 replies
Investing in Florida, especially in Tampa, is a fantastic idea due to strong population growth, high rental demand, and no state income tax.

29 May 2024 | 1 reply
David Orr started Tax Modern and wrote that linked article--I linked his BP profile.

30 May 2024 | 25 replies
I’d just consult an attorney as to the legal requirements and move forward with the next tenants.

1 June 2024 | 1 reply
The capital gains tax if I sell the rental will be $40,000.

1 June 2024 | 48 replies
My instincts told me something was not quite right and after consulting with another RE investor, I decided to respectfully decline to do business with the guy.