Kazi R.
What do you drive to your rental properties?
I drive a very old sedan. Most of my tenants drive nicer cars than I do. Now that I am considering purchasing a new(er) car that probably will be nicer than theirs, I am wondering whether to keep the old one to commu...
Steven Chang
Business Accounts Affecting Credit Score
Should I be concerned that opening accounts (credit card, checking, savings) for a business could affect my personal credit score? I have 700+, but it could lower my chances of approval or increase my interest rate fo...
Kirby Kernen
Cash out refi current home to rent and buy new primary
I have been in my current home, a 3br ranch, for 12 years and I have been upgrading it the past couple years. I have about $100k equity over what I currently owe, and I plan on doing a cash out refi, and converting ...
Account Closed
Should I even consider buying a house?
I have been married and living with my husband, the breadwinner, for the last 5 years. We are separating and I am thinking about buying a modest home for me and my two daughters. But I have NO idea if I would even qua...
Gary F.
CPA or Tax Experts: 2018 House Hack/Rental Property Deductions?
It seems because the new 2018 Tax Reform laws are so new I can't seem to find real answers. I searched here and nothing for 2018 tax year came up. Maybe a CPA can chime in. Scenario:Im renting out rooms in my primary...
Dino H.
Driveway Parasite Removal
Hi,
Haven’t posted here in a minute; thought I would check here first before doing any actual research. I’m currently managing an eight unit property for my parents who are out of the country ATM.
The property is i...
Jessica Vollendorf
Insurance Policy on a LLC
I'm looking for some knowledge around insurance. I own a rental property and it is a LLC. The property has 2 different units on it. The main house and an accessory dwelling unit. Each unit is rented out to different t...
Eric Vasilopoulos
Roommates in Rental - Structuring lease for Possibly additional people moving in
Hi everyone, I have a 6 BD, 2 BA house for rent and 6 adult friends want to rent it. They said that every other weekend two kids will be staying over. How can I structure the lease so that the kids or additional adult...
Mike H.
Section 179 Vehicle. How to define the workplace?
Hello,I am trying to see if the section 179 vehicle deduction would apply for my case.I have a W2 full time job, as well as short term rentals:- W2 job takes 40hr of my time 4d/week at the office, 1d/week from home- I...
Cassidy Burns
What States are you starting your LLC's in?
Hi BP,I'd love to get this thread started.What are the best practices/ strategies to starting LLCs in the most tax "beneficial" states for their businesses? Why or why not? Great question to accountants .What states a...