All Forum Posts by: Christina Yoon

Feels like we are seeing a movement to discourage/ban gas stoves.  Not interested in the merits/opinions.  But a discussion of how this will affect real estate investors.  A good thing/bad thing?  Foresee potential other "bans" following trend?

@Amar Amarjust curious, (assuming the property is in Germantown or nearby) why do you feel the need to go through rental arbitrage?  Why not rent it yourself?  Rental markets are strong in MoCo.

For the record, I hate TurboTax.  I see returns and clearly it's just not meant for RE pros.

Technical side -

I would ask about their experience. # of years matter, but only as long as it's the right experience.  Ask if they invest as well.  

Soft side -

Get a feel for communication styles. 

Ask about other professional interests.  (Are they licensed for retirement/insurance/etc) and form your own opinion. Are they a jack of all trades/master on none?

There are quite a few of us here on BP - a simple search will  yield results.The rules say we can't initiate/self promote, but you can always reach out to a few and get a feel for a good fit.

Hope this helps 

Christina Yoon CPA

Employee vs IC can be very risky, mainly for the employer- and these rules vary state to state. But the general concept applies - who has greater control in the relationship? 

From a tax standpoint, it costs you the employer portion of Fica and medicare - additional 7.65%....but...there are advantages a business owner can take that W2 employees cannot, etc.

I think your conversation will greatly be shaped  on expectations from your current employer.

Hope this helps!

Victor, thanks for sharing your experience with group.  Alot of pre-1978 in my neck of the woods too.  Lead paint is a major concern for any landlord.

Oh so true.  CPAs aren't the enemy.   It's the other 3 letter acronym.  If you don't believe me, look at page 1 of your tax return!

Gary,

My recommendation would be to have your tax advisor explain basis. All the questions you pose seem to be spiraling around this topic - which makes me assume you are an S-Corp, because when this matters. 

Unfortunately, there is not a whole lot of "tax-free" and tax strategy becomes more important.

Provided certain rules are followed in 2022 and 2023, there would be depreciation left in 2023 using your example of a $30k car.