Joe S.
Tax and accounting question
Tax and accounting question..A number of years ago my wife and I purchased a house and placed it in our personal name and not an LLC. Since then we have opened an LLC or two :-). This particular property is still in o...
Want to reach FIRE long before you’re sixty-five? If you make a decent income, invest diligently, and watch your spending, you STILL could fall into the “trap” most FIRE-chasers find themselves in. By making one BIG m...
Percy N.
PA Rental Security Deposit Escrow
PA Landlord Tenant Law states:68 P.S. § 250.511b§ 250.511b. Interest on escrow funds held more than two yearsCurrentness(a) Except as otherwise provided in this section, all funds over one hundred dollars ($100) depos...
Kevin Galus
Accounting (Property Mgmt) takes fee from deposit
All,I need some guidance on how to account for the following in QuickBooks:I use a company to find and place tenants in my properties.They charge me ½ of the deposit fee.So here is the issue. I actually never write a ...
Karen Tan
When can you take bonus depreciation?
Hi, we converted our previous primary into LT rental in January 2022. It’s been rented since. Purchased in 2018 at $325k, it is now valued at roughly $410k. Is it too late to get a cost seg and take bonus depreciation...
Kevin Nalley
PayNearMe, Family Dollar, and Ace Cash Express
I recently received an email from PayNearMe they will no longer accept payments from the Family Dollar as of August 10th. That leaves me with Ace Cash Express since there are no 7-11's in Louisville, KY. My tenant ...
Mike Carroll
Short term vacation rental; do I need an LLC?
I am gearing up for my first summer with my brand new beach house and was wondering if an LLC was necessary/suggested? My question derives from a place of keeping things simple from a business stand point. So wouldn't...
John Paul
Best place to park cash
Hi, Our current savings account in bank pays 0.15% interest. Wondering where is the best place to park cash (50K). Until we decide where to invest, what would be the best place to park the cash so it can earn more ...
Adam Roberts
Quickbooks & property appreciation
Team - has anyone (who uses quickbooks) been told by a CPA to hold their property values steady (i.e. original purchase price/value) in their books around tax time? It would be nice to have an accurate picture of tot...
Antonio Hernandez
blocked from Facebook Market place - I only list rentals?
Hellorecently I noticed that I was banned from Facebook market place and I have no idea why. The only thing I list are my rentals. Has anyone else ran into this problem? I would be interested in knowing how to resolve...