Melanie Nash
own 2 houses lost my job
New to this. I own 2 houses outright in Florida. I live in one and rent out the other. I have a property manager who takes 10% a month. I was working full time till last week then unfortunately lost my job. Question,...
Kimberly J Hubbard
Managing Rentals - bank accts and programs
What is the best way to manage rental income and expenses. Should I open a bank account dedicated to my rentals. What program do you use to manage the record keeping?
Jake Kinoshita
Can you manage bookkeeping for flipping by yourself?
I am doing bookkeeping for my rental business and am interested in flipping business but can you bookkeep flipping business by yourself?Of course you can always ask CPA to do everything but it is not cheap to hire the...
Jim Goebel
Kids College Savings - 529 vs Coverdale vs Roth IRA
Hi everyone, We've been thinking through the best way to save for kids college. We have two kids and have been maxing out our state's 529 plan. Quinn is a 3 year old boy and has about $18,000 in a 529 account alread...
Christina Tabacco
Self Directed Solo 401K
Thank you to all who have posed over the years the benefits of a Solo 401K vs Self directed IRA. Correct me if I am wrong but from what I have read here as a self employed agent with an LLC, a Solo 401k would be a b...
Account Closed
Softening the Tax Blow of Early 401(k) Withdrawal for REI?
This is more of an Accounting question but the REI aspect of it does warrant discussion IMHO. I have a sizeable 401(k) that I would like to take a distribution on so that I can use it as after tax dollars in order to ...
Asher Anthes
Filing my schedule E for the first time, need help
Hey guys, just bought my first home in May of last year. Have got it rented out and living in it with positive cash flow. I'm looking to buy another house ASAP.
My question is how to minimize my taxable income this...
Nicholas Glatter
Taxes & Rental Income what to report?
Hey everyone.I’ve been reporting my rental income for the past year now so no issue there.But, my mortgage is 2700 and the rent charged to the tenant is 3250. Do I report the entire amount $3250 as income or just the ...
Pete Nater
Questions for Note Investors
Thanks for your insight. I appreciate it, really. Here are my questions;How is the income from mortgage payments to the note holder taxed? Is it unearned income at a lower rate? Are there any tax tips you might recomm...
Alyssa Correthers
How you collect from your rentals
How do you guys collect rent from your rental properties? I’m curious because I’m tired of collecting rent in cash, face to face... i also don’t want to pay a property manager