Mathew Fuller
Where do you park your rental income?
Hello BP,
I have a few questions:
First
I recently acquired my first tenant in a house a hack. Today I opened up a new checking account with my bank, and I either need to have direct deposit setup with a minimum ...
NA Jones
Where to keep the money?
We will be looking to secure a traditional mortgage on investment property in a few minutes. Just wondering if it makes a difference on where we are keeping our available funds. We have a business checking account i...
Judy Murphy
Tax benefits of separating rental income from pet rent?
Hello everyone. I have 3 rentals, one in Anchorage Alaska, and two out of state. With all three, I have Pet Rent. My property manager in Anchorage separates the pet rent from the general rental income on every stat...
Jeffrey Evans
Business Bank Account
I have a Business account with bank of America. I recently closed on a small investment property in KY. I wanted to keep all my income and expensive for this property in this 1 account. Since the account and the pr...
Madison Lowe
Accounting
What software do you recommend to RE owners/business accounting for rental property passive income and flip accounting. I heard that Quick Books is great?
Shella Sanders
Best way to invest for kids
I have a 2yo and a 6mo and I want to get them both set up with some kind of savings accounts. I can easily commit to $50/mo each and be consistent with that on autopilot and throw in an extra $500 or so here an there ...
David Hendrix
How do you collect rent from lower income units?
Hello everyone,
I have a couple of multi units in Mansfield Ohio (6 unit and 8 unit). They are both lower income type properties ($300 to $325 per unit). How do you collect payment from these lower income ren...
Robert L.
How to record my owner financed note?
I wholesaled a property and charged an assignment fee of $5800.I took back a note and my buyer is paying me $300/mo a month until the note is paid off.My bookkeeper is having a very hard time how to record this in Qui...
Tinia James
Made no profit this year should I still file taxes?
I started dabbling in wholesaling a few months ago,I do not have an LLC. I haven’t made any profit yet and I’m wondering if I should still file taxes for my “business “.
Aimee Tarte
Accounting Questions that accountants don't know (ugh)
Hi everyone!
So I have asked multiple accountants and even tried to do research on my own but was unable to get any answers. These may be obvious questions, but I hope you all can help.
1. How am I supposed to show ...