Yearly Archives - 2021

Business Assessment [AC]

Have you asked any of the following questions? As a business owner in the U.S., should you be asking these questions? What will my tax bill look like for 2021? Is there anything I should do in the next month to reduce that? If so, what? Does it involve spending money? Should I change my entity structure? Can I still change my legal entity structure? Am I...

Checkbook LLC’s Just Took a Major Hit in Tax Court

Please share this far & wide, it has massive implications for SDIRA investing with "Checkbook LLC's". This is not a proposed law. This is a Tax Court ruling and is, therefore, the law today. Here are the basics: The taxpayer had an LLC 100% owned by her IRA. She was the manager. The LLC bought gold coins and stored them in...

IRS Dedication More Attorneys to Attach Syndicated Conservative Easements!

IRS Dedication More Attorneys to Attach Syndicated Conservative Easements! by John Hyre The IRS announced (informally, at a CPA conference) that it is dedicating more attorneys to go after and litigate syndicated conservation easements. In such cases, syndicators acquire property in an LLC or LP, contribute a portion of it to a non-profit for natural or historical conservation purposes, and...

Let the Business Teach You

Let the Business Teach You by Tony Youngs When I first got into real estate, I chose to start with pre-foreclosures. I learned that banks and lending institutions would auction houses off to the highest bidder at the courthouse steps in the county where the property was located. I also learned that you could buy these houses directly from the...

Landlord Blog: How to Show Proof of Delivery

HOW TO SHOW PROOF OF DELIVERY Certified Mail [NY] Sent certified letter to both tenants notifying them of a rent increase, respectively 12/1/21 and 1/1/22.. Neither of them picked it up or were "available for signature" (which is odd because there is always someone at home--I did not specify the signator) and it got returned back to me. These tenants are...

Landlord Blog: Leak Detectors

Leak Detectors An entire discussion by landlords was recently devoted to sharing info on devices. These devices ranged from simple audible alarm sensors that sit on the floor behind a washer or water heater, to the kind that are plumbed into the main water supply and cut off the water if a large outflow is detected. This is one of...

Landlord Blog: Rent Increase

Rent Increase (by Lew [NC]) Posted on: Jul 28, 2021 2:51 PM I have a couple of nice duplexes in the Raleigh, NC area which is booming. I have a resident that has been in one unit for a dozen years and I never raised the rent for many reasons, the main ones being retention and to leave sleeping dogs...

Landlord Blog: Light Bulbs

Security Deposit Return (by Dee Ann [WI] ) Posted on: Sep 3, 2021 4:03 PM Do any of you deduct for burned out light bulbs on the security deposit? We don't mind replacing them if a ladder is involved, but I'd love the departing to acknowledge and provide the bulbs. Thoughts? We provide energy saving bulbs and tell the tenants...

Landlord Blog: Cash for Keys

Mr LL Cash for Keys [MI] I am wondering something. I have an upcoming court date to evict a tenant for lease violations. # 1 is her deadbeat BF, who now seems to be staying full time, now that the Court paperwork has been filed with the Court. My question is: She wants cash for the keys. Do you...

Landlord Blog: Jump to Landlord Full-Time

Landlord Full-Time Any tips on going from full time job to being full time landlord? Have 45 sfh anout. 44 years old. Wife is stay at home mom of our 9 an 10 year old, so she has no work insurance.. Insurance part scares xxx out of me. Answers: -You don't have to quit cold turkey. You use your rental income to...