Dmitriy Fomichenko
Drawing salary from S-corporation
Looking for some feedback from tax experts. I'm asking this on behalf of a client. Client and a partner own an S-corporation. Client told me that they never took a salary from the corporation and simply take dividend ...
Beth Johnson
A few reminders for DIY private money lenders
Consider private money lending and/or note investing for a passive income source? You're in good company. It's a lucrative alternative investment if done right, offering strong interest returns without the headaches o...
Rob Randle
How to get out from this deal??
I have a family member who is in a tough buying situation and I am seeking advice on their behalf. To sum it up: 1. He put an offer in at $135,000 on a Fannie Mae home for that was listed for $125,000 and it got acce...
Steve Der
Renting Out Property in San Francisco
Hi everyone. I am thinking about renting out my property in SF . I understand it is illegal to rent out an illegal inlaw. But what if the house has only an illegal full bath?
Steve S.
Hiring friends to do work on rentals and taxes
What happens if you don't 1099 them?If it's under $600 for the year, it's not required right?Can I still expense it or does that create some issue?Same question for the people you pay to mow the lawn. I've asked them...
Kyle Nigro
Issue with contractors
Hi everyone, Long story short. I have a contractor working on a BRRRR in the STL area. We have a signed contract agreement that the project would be completed by 5/15… As of today, they are still working on it and I ...
Charlie B.
Lease ends, tenant moves out, and then you learn that they broke the No Pet Rule. What do you do?
Would you keep a "Pet Fee" out of the security deposit? In this instance I am holding 1.5 months deposit ($1,725). Otherwise the tenants were perfectly pleasant. So what do you think is fair in this instance? We're...
Kimberly Keesler
Tax shelter if selling stock to buy real estate?
Does anyone know if a person qualifies for a certain tax break if they sell corporate stock but immediatly turn around and buy a piece of real estate for investment purposes? Is there a way to do this (legally of cou...
Frank Guzman
Fraudulent Loan modifications
Owner of 2nd mortgage started foreclosure 2018 for non-payment and was pulled into Chapter 13 BK. BK Judge released BK hold to allow foreclosure by me after I proved the Original owner had quit-claimed property to ano...
Frank Guzman
When is a loan modification fraud and who is responsible?
Owner of 2nd mortgage started foreclosure 2018 for non-payment and was pulled into Chapter 13 BK. BK Judge released BK hold to allow foreclosure by me after I proved the Original owner had quit-claimed property to ano...