Joshua Sun
Should one open up a business bank account before starting out?
My girlfriend and I have been saving to buy our first investment property. Should we talk to a bank to open up a business account? I hear it will be easier for CPA / Taxes later on if all expense from purchase, rehabs...
Ruel Baliong
Need some financial advice, should I do a debt consolidation?
I just recently made a lump sum purchase on my credit cards and am currently in debt 44k. I'm not having issues having to pay them but I'm starting to feel the effects of the interest. I've always managed to pay my cr...
Have you ever been in a conversation where someone has had to ask you to repeat something multiple times? It’s frustrating when you’re trying to tell someone something and they just won’t listen, but what about all th...
No time or money to invest? You need a real estate partnership. What keeps almost every real estate rookie from investing is the fear that they’ll fail or that they don’t have enough to get started. But what if you co...
Arif K.
S-corp or LLC
For those who are flipping or running rentals as a business, how did you structure your entity? Did you create an s-corp or an llc? What were your reasons for choosing one over the other?
NA N.
Minimizing taxes paid on your Rehab/fliping business
Could anyone please suggest best ways to minimizing the amount of taxes you pay for properties you buy, rehab and flip for profit in a short couple of months period?
One scenario would be I use my own cash to buy and...
Yongjian Pan
Tax write-offs for personal and rental properties
Tax write-offs such as depreciation, mortgage interest, property taxes, and operation expenses...etc apply to both rental properties (property for rent) and personal properties (home for personal living) right?
Ryan O.
S-Corp Reasonable Salary
I understand as a shareholder of an S-Corp you are supposed to pay yourself a reasonable salary for work performed on behalf of the business. You cannot pay distributions until you first pay yourself a salary.
...
Joanna Lenn
Tax man says "Become an S Corp" - thoughts?
Hey there! I own a triplex and I also work a full time job as a W2 employee. Due to the new tax law, my tax man says I should become an S Corp asap. This is based on my typical deductions every year - regardless of m...
Ilona Davidovich
Manage 55+ rentals, how do I start selling pieces of it off?
So it has taken me a few years but I now have 55 annual rentals and a few seasonal rentals that I manage, here and there I will also rent a unit for someone and let them manager it thereafter. I truly like managing re...