Chris Roush
Tax write-offs for creating an LLC
I am working with an attorney to setup my first LLC. Since this is my first business, I'm trying to figure out how to handle the expenses when the 2019 tax season begins. Since I had to start the LLC with my own perso...
Karen Chenaille
Best Receipt Tracker?
Hello!
I am looking for recommendations on the best receipt tracking app that will allow me to export data my accounting software. We use QBO plus but some of our expenses are paid for with our personal accounts which...
Ryan U.
personal or business?
When you guys have rental income coming in every month, do you guys deposit the money into your personal account or business account? Is there an advantage? What do most landlords do?
Still learning....
thanks
Nicholas Acosta
Hard Money and Private Money
If I'm using an LLC to purchase a property with a hard money loan, but I am borrowing money from a family member for the downpayment.. How would I receive that money from my family member? Would it go to my personal a...
Nahal Beckam
EIN Number for rental property
Hello, we have a rental (me and my husband) that we manage ourselves. In order to open a business account I applied for an EIN number under the category of partnership. I wonder if we need to file some additional tax...
Daniil Kharlashko
Single Member LLC Capital Contributions
I have a Single Member LLC where i have gave an initial capital. I do cash based accounting.My question is since the initial capital doesn't count as income correct? then when i transferred a portion of the initial ca...
Isabelle Trepkoski
Rookie-Business Bank Account
Hello!I have purchased 2 duplexes in 2022. One was rehabbed and now is in the process of being rented. The other is in the rehab phase on half and the other half is rented. I realize I should have opened business acco...
Eli Kallison
Keeping personal & rental expenses separate (How to fund rehab?)
Hi BP,I am just realizing the importance of keeping business and personal accounts separate. My plan right now is to open a checking account and a credit card just for real estate expenses. I currently own 1 multi-uni...
Thomas Lowe
Mortgage approval issue
So I’m trying to get approved for a conventional loan for an investment property. My wife and I have a joint bank account, And she also has her own personal account. I’m trying to transfer money from my wife’s persona...
Jasper Li
Mortgage Payment Question
I am currently renting one side of my Duplex and living in the other side. I’m collecting the rent into a business account which covers part of the mortgage. And also transferring money from my personal account into m...