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2 June 2024 | 2 replies
LLCs offer no tax benefits, they mitigate liability and the fact that this is on your personal property and you'd be renting to yourself, there's no liability to mitigate.
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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?
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1 June 2024 | 17 replies
Everyone is going to give you their own "personal" preference.
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30 May 2024 | 17 replies
For $1-2k per month operators can generally hire a dedicated local 'Superhost' or experienced local manager/cleaner while enhancing the quality of services rendered.
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1 June 2024 | 18 replies
It only says "some personal use" with no quantity specified.
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31 May 2024 | 9 replies
I also think the quality of the beach (i.e., the sand and the water) is better in Gulf Shores and Orange beach...I have a theory that the beach gets better the farther east you go...will have more info on that in a couple weeks.
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30 May 2024 | 21 replies
thereby allowing these plumbing updates to pay for themselves).I've got the toilets and faucets all picked out (because I have personal experience with these and I know which ones are good) - but I'm not sure what to do about the shower heads...I know that shower heads are an item that can be the biggest money-saver (because these tend to consume more water than anything else).
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2 June 2024 | 2 replies
They will allow your mortgage payment and any personal debt payments (credit cards, cars, etc) to reach about 45% of your monthly income.Programs vary all over the place so it's best to ask a mortgage broker which programs you qualify for.They like two years on the job, rent paid on time, no liens or judgments, pay stubs, tax returns and so on.FHA has a 3.5% down program plus closing costs.
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30 May 2024 | 1 reply
I am ok with expensive if ti gives me quality.
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30 May 2024 | 9 replies
There is also space to park 4 cars.I will be back in the area early May, so if this sounds remotely appealing, we can chat further on a call or meet in person when I am there.