Hi Everyone!I recently purchased my first property, a single-family home in Richmond, VA and am planning to house hack. I'm trying to figure out how to set up the banking for managing the property. I've heard it's bes...
Hi all
I'm closing on my first property today a 3-family unit. I was wondering if I should set up another personal bank account for all activities. I'm going to be depositing my checks and if there are repairs I'm go...
I am currently in search of an accountant that has experience with clients in Real Estate. We have been virtual wholesaling since April 2020 in different parts of the country but our company is based in Willingboro, N...
As an independent contractor years back I was able to exceed traditional 401k limits w/super/megaroth. This was glorious. Since then the company which provided the solo 401k was acquired, rules changed so that now (in...
I am confused! Turbotax is not letting me deduct my rental income loss from my income. Any idea why would that happen??
I officially started using quickbooks to help organize my accounting. I wanted to share with you how I set it up, and was looking for feedback on how others may organize/account themselves.1. I added my business bank...
Hi all I have a few questions regarding properties under LLC vs personal for buy and hold / BRRRR strategies...
Can a rental property be under our personal names (mortgage title/deed), but the bank account for renta...
Hey everyone - new investor with some basic questions. I know this probably sounds pretty elementary, thanks anyways!
I have one rental property that was purchased with a VA loan and was my primary residence for 15 m...
This is my first full year as a rental property owner, and I am doing my own taxes. I received a 1099-MISC from my property manager showing the expected amount in Box 1 for rental income, and about $1200 in Box 3, "...
I've asked a lot of people but not getting any clear answers. These questions are keeping me up at night!
1.) My wife and I want to maximize number of conventional loans. We heard if lenders see that we file taxes to...