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19 April 2024 | 10 replies
Chicago's lawn offers a variety of options, including residential areas with good amenities.
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18 April 2024 | 8 replies
I have found my self in a terrible financial situation.
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18 April 2024 | 14 replies
For example, we have a client who is in a market where they rent the basement out on a short term basement and self manage.
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18 April 2024 | 2 replies
So far I have check TransUnion smartmove which only does based on self reported income, but I am looking for verification from the employer itself..
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19 April 2024 | 4 replies
Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.
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17 April 2024 | 13 replies
Here is a link to the IRS website for reference:https://www.irs.gov/retirement...Another great resource to learn will about this topic be this discussion on the forum:https://www.biggerpockets.com/...Here is the numbers, We know only the Active Income can contribute to 401K, in order to contribute $20500 to 401K, you need $102500 Net Active income, because Self-employed only allow 20% of the net Income to contribute to 401K. that means you need to put $121015 minimum to schedule C as active income, and you need to pay $18515 for the self-employee tax to convert the passive income to Active Income, is that worth it?
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18 April 2024 | 11 replies
If you have a Buyer Broker Agreement in place with your agent, it may include the language that says all inquiries go through the agent, as well as what amount of compensation is due to them with any purchase you make as their client.
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17 April 2024 | 5 replies
I self manage currently use Rentredi for management and REI Hub for Bookkeeping.
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19 April 2024 | 15 replies
This includes individuals who primarily have W-2 income from employment, basic investment income, and perhaps own a home or have standard deductions.Rental Property: If you have one or two rental properties and feel comfortable managing the related expenses and deductions, tax software can handle this level of complexity, especially if your transactions are straightforward and well-documented.Complex Scenarios: Hiring a CPAWhen to Consider: As your financial life becomes more complex—such as owning multiple rental properties, running a business, dealing with investment incomes, or having special tax considerations (like inheritance or foreign income)—the benefits of hiring a CPA increase.Cost Consideration: Hiring a CPA typically costs at least $1,000 to file your taxes, which can increase based on the complexity of your return.
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21 April 2024 | 17 replies
This includes internet research, books, interviewing long time investors, fund managers, brokers.