Cindy Auch
Is interest received from fix & flip loans subject to self employment tax?
Wanting to understand how the interest part of our income (partnership LLC) for short term loans- mostly fix & flips, are considered for tax. One accountant said it’s not subject to self employment tax since it’s ...
Jan Neruh Kelsey
Recommendations on organizational tools/spreadsheets for rehabs/flips
New BP Pro member here. Does anyone have any recommendations, or even better any spreadsheets, excel or web-based, they use to keep track of all construction expenses for Flip/BRRRR properties? I BRRRR several prope...
Ben T.
How To Avoid Tax Penalty When Selling A Rental Property
Hello - I will send a rental property this year. LT gain expected of about $200k. My wife and I are above $150k AGI.
Can one please explain to me how to avoid underpayment penalty? I am confused with “quarterly esti...
Joe Gee
Quickbooks Online/Accounting Set Up
Hello,
I just signed up for Quickbooks Online Plus, and I need some help regarding the set up for my LLC (flipping) and 2 rental properties (personal name).
The cleanest way from what i'm hearing is to set it up a...
Brent Langlois
QuickBooks for Book Keeping
Tried to find the best place for this post, apologize if I missed it.I'm looking into Quickbooks for bookkeeping for my rental properties. The main choice is between online and desktop software. The online is a monthl...
Robert P.
How will buying a 200k house and renting out impact Taxes?
First time buying a home. Home is in Massachusetts. Will be renting it out. Any clues on how my year end taxes (not property taxes) will be impacted by purchasing a home, and now having more income coming in. (besides...
Joseph Cornwell
Tenant Screening Reccomendations
Calling all landlords,I would love to get feedback on what other landlords are using for tenant screening services. Company or service referrals, cost, pros, cons? I will be renting both units in my first duplex in th...
Ian S.
Best way to track 11 rentals managed by 3 different PMs
Hi. We own 11 SFH rentals, spread among 3 property managers (different states). All 3 PMs use Appfolio and pay us monthly. Any expenses go against reserves of $500 per property and if any expenses are higher than that...
Ryan H.
Single Member LLC: Self Charged Interest to Reduce SE Tax?
Questions: (1) May the owner of a single member LLC loan money to the company and charge the company interest for the loan? (2) If so, is the interest paid by the company a deductible expense to the company reporte...
Greg W.
using rental income to qualify for mortgage?
is it possible to use income from recently (few months ago) acquired properties to qualify for a fha loan for my personal home? If so what documentation would a bank request?Thanks,Greg