Becca Flim
Business Bank Account vs Personal Bank Account
Hey BP community!
We are in the process of purchasing our first rental property in PA and looking at opening up a separate bank account in order to track our expenses. At this time we are not looking at setting up a...
Elaine Hester
Yikes—entity fees potentially killing my cash flow, help!
Yep—another newbie here, wondering what I'm missing ... I have only recently learned that owning my properties free and clear puts me in a more vulnerable position for liability and know now that I need legal asset pr...
Dmitriy Fomichenko
How to supercharge your Roth IRA or Roth 401k
NEVER CONVERT CASH in YOUR IRA or 401K into ROTH!!!
Here is why. If you do so - 100% of the cash converted is taxable. There is a much better alternative!
The alternative is to set up a self-directed IRA, or better,...
John Thedford
Property Tax Bills: Are You Prepared With Reserve Funds?
It is that time again (in FL) that owners receive their property tax bills. I just wrote checks for tens of thousands of dollars. New landlords beware: RE investing is just not as easy as "buy it now" and you are done...
Sanjay Sharma
How to split cost seg between partners?
I’m adding another forum question to my string of cost seg questions.
I’m partnering up on a purchase. My spouse meets real estate professional status. The real estate partner does not meet status and will not quali...
Brenda Allen
LLC vs. S Corp for Wholesaling?
Hi All,Many years ago when I first started rehabbing and wholesaling, my CPA told me that the S Corp. was the best option for my business entity. I went with his recommendation, but now it seems like everyone I see in...
James R. Copeland
How much do you pay your CPA?
So I met with a CPA yesterday (whose name I got from Bigger Pockets actually) in my area. I loved him about as much as a straight man can love another man within minutes. Downside is... He charges about $750 per year ...
Charles Joshua Stallings
Question on property taxes - Burlington County
Hi!
This is my first post, so I apologize in advance for my ignorance. I do not currently own any properties but I am looking to buy a multi in the near future. I have been using several of the methods of valuation o...
Mitch Vogatsky
Cutting back on retirement savings
I have focused on saving for my retirement through my 401k for my first few years of work after college. I managed to save up $100k to invest and have decided that I will no longer contribute more than my employer mat...
Lori Brittain
writing off meals during REI meetups
Should I be saving my receipts when I attend local meetups for a tax writeoff?