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11 May 2024 | 4 replies
Just keeping things separate for now will be a big help come tax timeGood luck
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11 May 2024 | 5 replies
The bill that includes the extension of 100% bonus depreciation, Tax Relief for American Families and Workers Act,” H.R. 7024, was not included in H.R.3935.
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11 May 2024 | 6 replies
Second, I received a request from State Farm today: Please provide the gross sales/receipts amount for the insured location(s) as reflected on their most recently completed tax filing or anticipated gross sales for the upcoming fiscal year.This strikes me as a little weird and perhaps I shouldn't jump to the conclusion that this info will be used against us (and result in a higher premium).
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11 May 2024 | 7 replies
BEFORE taxes and insurance, probably common utilities and maybe an employee or two?
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12 May 2024 | 6 replies
Assumed purchase price at asking, got the rent roll from the listing agent, currently rented 0% vacancy, and made some assumptions on taxes, owner paid utilities, etc.
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9 May 2024 | 1 reply
From the single-member LLC, i pay myself 100k last year to max out on the solo 401k contribution, while still having a W-2 as an engineer as my main job.my main job pays me 170k/year (Google)my single-member LLC rental pays me 100k/year (as S-corp structure)my question is regards to the payroll tax, i know I already max-ed out on the payroll tax on the employee side, any additional payroll side as employee will be refunded in my tax return, how about the employer side.
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12 May 2024 | 2 replies
Cashflow - You mention cashflow year 2 in the single family....Assuming 5% down and a 6.5% rate, your mortgage on a $400k house will be about $2400/mo...add in: taxes, insurance, maint / repair, vacancy, utilities (if any), etc.
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10 May 2024 | 7 replies
I wouldn't buy this thing for any more than $55k/unit- all one beds is a bad deal. too much missing info- historical vacancy, tax returns etc etc.
12 May 2024 | 12 replies
This includes principal, interest, taxes, homeowners insurance and mortgage insurance!
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8 May 2024 | 4 replies
I am very new to Tax deed investing in the CA US.