Mauricio Duarte
QuickBooks Help - Accounting for Returns
I'm new to QuickBooks and need assistance accounting for item returns. Here's an example of what I'm struggling with:Let's say that on 5/27 I purchased an item at Home Depot for $10 which I assigned to a COGS category...
Kenneth G.
Multi family Offer question
Hello everybody, I am putting together my first offer on an occupied duplex. I have a question about the language to use when requesting the leases for review of the current tenants. The question is a straightforward ...
Brent B.
Tax Planning for New Landlord
Hi BP,I began renting my previous single family residence in San Diego CA earlier this year, in May 2019, when I bought my new primary residence in San Diego. I have not set up any type of corporate entity, rental pa...
Ayne C.
Yearly inspection by PM
Wondering if this is reasonable. My PM scheduled a yearly inspection they my property and uncovered these issues:
Sprinkler eroded a hole in the dirt near the house
Fascia has a gap
Tree needs a trim
Kitchen cabine...
Bernard Sanga
Property tax write offs - need help
I bought my primary residence last year and was not able to take any deductions. My accountant says going for itemized deductions did not make sense in my case because I will get a higher deduction on standardized. I ...
Cody Bradley
Can't Get Any financing
Hey Everyone, I currently have a duplex which I owner occupy half, I've had it for about a year and it covers the payment and about $50 extra. I have a SFH that I bought with a 401k loan so technically there is no lie...
Josh Masih
Closing cost
I am going to buy my first property and the bank approved $140K with 25% down. Loan amount will be $105K. But bank total charges will be $4,452.47 (1533.47 prepaid item and closing cost $2,919.00. Is this reasonable c...
Michael Mignogno
Who is responsible for destruction to property, the PM or Owner
Hello Everyone, Recently in one of my STR homes, the tenants cause major destruction to the property. It looks like they rented it for 2 days and went wild. Holes in walls, broken bathtubs, smoking weeds in the hous...
Russell Brazil
Buyer is Undisclosed Agent
I am the listing agent in this deal. Property is under contract, buyers agent today sens me an insane inspection addendum asking or 40 items and additional credit. The total of which is about 20% of the total value ...
Donyea Jenkins
Employee tax question
If an employee told me he wanted to be a 1099 and have his wages sent to his church and they were going to take care of his needs, would the employee still have to pay takes on his wages?