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23 February 2025 | 15 replies
She uses QBO and is linked to my online banking and a couple of credit cards.
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14 February 2025 | 10 replies
You fill out an application, provide proof of income, credit report, list assets, list liabilities, and so on.
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21 January 2025 | 7 replies
Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S
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10 February 2025 | 6 replies
Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)
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13 January 2025 | 7 replies
Whether you need a CPA with just three rentals depends on the complexity of your situation and your comfort level with DIY tax prep.If things are pretty straightforward, you might be fine with tax software for now.
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23 February 2025 | 5 replies
That's including high Baltimore property taxes, expenses, mortgage, etc.
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23 February 2025 | 10 replies
And, factor in the depreciation and other tax benefits, deductions, home office, vehicle expenses, etc.
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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.
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17 February 2025 | 10 replies
@Kristin Vegas- You are going to need those invoices to be able to write off the repair expenses for tax purposes, so if this PM isn't willing to provide them, you should look for a PM that does.