Mayer M.
Buildium for accounting too?
Hey all!So I just signed up for Buildium and wanted to hear feedback about using their platform for accounting. Currently I run QuickBooks, but their claim is there’s no need for QB as their accounting and reporting i...
Murat Ozdo
Looking for teammates lender, contractor, realtor, property manager
Hello everyone,
ABOUT ME: I am a non resident foreign investor who just joined the real estate market possibly in the worst time :) I am interested in Cleveland,OH. I have been monitoring the market in and around Cle...
Account Closed
How Does a Trust Move to another State?
A revocable estate planning trust is now irrevocable after grantor passes away. Trust holds several tax sheltered accounts (IRA, 401k). Successor trustee wants to minimize taxes upon distribution of these tax shelte...
Mark Ham
Structure depreciation required or optional?
So i understand you can record the structure portion of the property as depreciation as a paper expense. But do I have to? I expect the cash flow to be so small that taking the depreciation makes no difference. If ...
Fabiola Patron
best tax saving strategies for flipping
I am wondering if anyone has any advice on tax savings on income made from flipping. Should I buy investment property out of state, re invest in another flip?
Jeff Gates
DIY landlords are not accountants
Most DIY landlords are not accountants; however they would like their financial data accurate. How can the software communicate debit and credit to the non accounts?
Julián Sánchez-Pinto
Taxation on a manager-managed LLC
Hello, A friend and I are planning on opening a manager-managed LLC to buy properties and rent them out. We are have to use a manager-managed LLC where my partner is the manager and I am a evasive investor. I have two...
Kirsten Braddock
Bank Setup for Rental Properties
I'm looking to get advice on how others are setting up their bank accounts. I currently have 3 rental properties. Last year I adopted the Profit First System (Mike Michalowicz) and use the following accounts to manage...
Amy Turnbull
I sold a home in another state--do I have to pay tax?
I appreciate responses about this. I don't want to get dinged next year or whenever if I need to pay sales tax. I mean, I have paid my income tax but pretty sure Massachusetts wants a piece of the action!
Shane Gaboury
What is the next step?
I currently am in my mid-twenties and own a 3Br Condo in Northern Virginia and rent out one of the bedrooms for 800 and the mortgage is $1,500. What should I do with my discretionary cash flow?1. Set up a solo 401k?2...