Andrew Yu
Bookkeeping after Buyer Return My Seller Finance Property
I sold a property a few months ago via seller finance. The buyer is backing out due to family emergency. How should I do the bookkeeping on it? My contract says in case of default, all the moneys paid will be treated ...
Spencer Gysi
What is you virtual PO Box experience?
Does anyone have experience with using a virtual PO Box/address? How has it worked for you and have you had any issues?
Dave Fellow
Horrible Solo 401k Experience with Titan Bank
Hello,I attempted to open a Solo 401K account with Titan Bank and encountered extreme incompetence. After submitting my application and all required documents, I received no response or confirmation from Titan Bank. ...
Carlos Lez
PUA and schedule E landlord
I have been receiving Pandemic Unemployment assistance (PUA) due to reduced rental income and high number of vacancies. Rental income is my only source of income hence my tax returns generate only the Schedule E (pass...
Mindy Jensen
Did you get your Pro-only newsletter this week?
Hey Pro members!I sent out the second edition of our Pro-Only newsletter this week. You should have received it on Monday or Tuesday.Have you read it yet? Did you set up your Pro-Only signature yet?Go to https://www.b...
Mark Forest
Prospective tenant accusing me of phishing
We have a vacancy that receives several calls a day and we try to respond to all phone calls and emails. Occasionally when I call someone back I receive a recording their voicemail is full. We received a series of ir...
Jason Malabute
accounting question- bookkeeping
Many investment firms bought interest cap rates last year when they purchased multifamily properties last year in response to the increasing interest rates because they use variable bridge debt. When the variable rate...
Martin Sterling
Fundrise Tax Minimization Strategy
Greetings, I want to know if there are any suggested tax minimization strategies when investing in places like Fundrise or Prosper. From my understanding, your returns are taxed at ordinary income rates which is not i...
Jimmy S.
tenant did not include late fees
How do you handle late fees if tenant has paid the rent late but did not include the late fees. Do you send them a letter, call them or how do you handle it?Rent is due the 1st and 2 day grace, 3rd day $40 late fee st...
Janet Behm
Last, Last Minute Tax Actions
1) Buy Supplies in Advance (to increase expenses and offset income)
How much disposable equipment do you expect to use in 2021? Order it now so the cost is deductible in 2020 if you need to offset income. Buy what yo...