Account Closed
How are other landlords using their LLC’s
I just registered my LLC and i want the income/cash flow that’s generated from my existing rental property to count as income to the LLC instead of myself. Should I possibly have the tenant deposit rent payments into...
Daniel M.
Help Setting Up QuickBooks for Real Estate
Hey BP!
I'm diving into QuickBooks Online for the first time and could use some guidance. To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ug...
Samantha Kincaid
Bank Account per Property?
Should we set up one checking account per property?My husband and I purchased our small single family a few years ago. We are in the process of purchasing a duplex with additional rented storage space where we will mo...
Tyler Sherman
Carry forward suspended losses
Hello! I'm working with an accountant and I'm a little annoyed because I'd like to understand how the carry-forward suspended losses is calculated and I'm not getting a clear answer. I thought it would be as simple as...
Seidu M. Lawal
Bank asking for salary account
It's about getting my first loan from a bank, and they require for me to have a salary account with them. And I don't plan on having a salary job, my plan is to obtain a mortgage and buy a multi family home, I'm start...
Nikki Kofkin
Need a CPA, first time tax return with one buy and hold!
Hey everyone! I'm filing my taxes for the first time this year and I really want to hire a CPA to help me. I definitely waited to long, because everyone I called in my area last week is either not taking new clients o...
Michael Oliver
Question Regarding using lease for funding
Long story short-ish:I have a current mortgage and my DTI is too high, but the thing is an amazing STR. Would do 5k a year easily. Has a flavor for all seasons.But I have to live there. Im trying to move out so it ...
Viktor Singh
Self Managing property Tax implications
Hi all,I want to manage my investment property myself and wanted to know how to handle taxes. In the past, I have the used a property manager, and gotten a W9, but how should i do it myself ? Do i need to use some sof...
Nicholas Chan
How do you structure your STR business if you have more than one?
Hi all,I currently own 2 STRs properties (1 in Seattle, WA, and 1 in Big Bear City, CA), Both companies have a separate LLC, and on top of that, I have another LLC that I use as a holding company for the two LLCs abo...
Keith Hoffman II
Tax Deduction for Rental Property Mortgage Interest
My accountant told me that b/c my income is over 150K, the interest paid on my rental property mortgages are not deductible. I would only be able to claim these ductions if my income falls below 150K or when I sell ...