Adrian Brown
Single Member LLC with both spouses
I understand that me and my wife can both be on our Texas LLC, and we can still file as a Single Member LLC so that we have a disregarded entity from a tax perspective, but we still have the liability protection. In f...
Andrew Assman
Where do you park your investment savings?
My wife and I currently have three Ally savings accounts:
1). Emergency fund (4 months or so)
2). Investment savings (automatic contributions each pay period and dedicated to investments outside of our Roth/401k’s)
2...
Nick He
Any good accountant and tax consultant in Seattle area
Hello there,How do you do tax every year, by yourself or hire an accountant? Do you have any recommendations of good tax accountant that have lots of experience with rental properties?Thank you so much!Best,Nick
Aaron T.
What are you doing with your idle money?
I dont like to let my money sit around in a savings account. Its just sitting there not making any money.What is everyone doing with money they are saving for a purchase and dont plan on using for 6 months or longer? ...
Tyler Martin
Hold My Hand Through Tax Season
Happy Monday y'all,
Its that time of year again: tax season. I currently use Eco-Tax to handle all of my taxes. I find my self getting stressed out using them, mainly because I feel like they are more complicated and...
Carlos Rodrigues
Worth Paying Mortgage Points?
Good evening, I'm in the middle of purchasing a 2 family property for $274k here Central Jersey. I believe I can get a total of $3,300 total rental income. I'm talking to my lender about locking in my interest rate. M...
Evan O'Brien
Bank Accounts for STR Expenses
When you start purchasing short term rentals is there a certain amount of bank accounts that you have for your monthly expenses associated with the property? And if so what type of bank accounts should you have for th...
Lauryn Meadows
My CPA Doesn’t find benefit in Real Estate Professional Status
Question for my Investher CPAs.
My husband works full time in our real estate business, I believe he should have no problem qualifying for real estate professional status.
I work at W2 and have a 1099. We also fli...
Amy Biddle
Establishing the entity and tax plan before I purchase
Hey, so I'm getting back into REI. I never did this right before. Lots of shooting from the hip. I want to do this right, finally.Now I have a small amount of cash in a Roth IRA. Enough for a downpayment on a small mu...
Erin Feit
Wrapping taxes and insurance into mortgage or not?
Hey all!
On the two SFH's I own, I have the taxes and insurance wrapped into the monthly mortgage. I'm curious what common practices are and if there are any reasons why it would be more beneficial to pay taxes and ...