All Forum Posts by: Dave Versch
Dave Versch has started 39 posts and replied 156 times.
Post: Hey from Arkansas
- Murray Hill, NJ
- Posts 204
- Votes 15
Originally posted by Cory Bray:
Hi Cory,
Welcome to the site. Have you ever heard of a town called Horseshoe Bend, AR? I own a residential lot there and was just curious whether you'd heard of the place and what your impression of it might be...
Post: new real estate investment software - glacier concept
- Murray Hill, NJ
- Posts 204
- Votes 15
I've been using realestatecritic.com . Tells me everything I need to know, and the price is right!
Post: I was just called a conspiracy theorist!!
- Murray Hill, NJ
- Posts 204
- Votes 15
Originally posted by MikeOH:
Speaking of government conspiracies, why is it that everyone is so upset with this Bernie Madoff guy for his 50 billion dollar Ponzi scheme? They keep saying how it's the biggest Ponzi scheme ever, but it's not even close. The biggest Ponzi scheme has now been going on for about 7 decades, and it's being perpetrated on all of us to the tune of hundreds of billions.
It's called Social Security.
Post: I was just called a conspiracy theorist!!
- Murray Hill, NJ
- Posts 204
- Votes 15
Originally posted by Lee Common:
Lee,
Why would it surprise you that most people don't understand the economy? Most of the people in this country today can't understand anything more complex than "American Idol". And they're happy that way!
Originally posted by Nick Johnson:
Nick,
Just curious - why did you select the s-corp option for taxing?
Originally posted by Taz:
Taz,
Why is that? I thought that was the whole point of it.
Post: Hello from New York State
- Murray Hill, NJ
- Posts 204
- Votes 15
I'm looking primarily in kaisertown, lovejoy, and south buffalo. What do you think?
Post: Need Advice on bad investment
- Murray Hill, NJ
- Posts 204
- Votes 15
Originally posted by Tom C:
He's in Florida (Hurricane Ivan). He's lucky if he gets 140K. My dad's house in FLA appraised for around 440K in 2005, and he'd be thrilled to get 250K now. And his area didn't get hit by a hurricane.
Post: Hello from New York State
- Murray Hill, NJ
- Posts 204
- Votes 15
Hi Thomas,
Welcome to the site. I notice you're from Rochester. I'm looking at some residential rental properties up in Buffalo and Rochester. Any insights on the market up there?
Post: LLC or S-Corp
- Murray Hill, NJ
- Posts 204
- Votes 15
Hi,
I'm about to purchase 1 or 2 rentals. I'm debating over which way I should own the properties -- LLC or S-Corp. My understanding is that the only real disadvantage to going LLC is that you have to pay both halves (employer and employee) of FICA and Medicare tax on net income. However, my regular job already puts me beyond the FICA limit, so that by the third quarter of the year I no longer have to contribute to FICA. Since LLC income is taxed as pass-through and added to my personal income, does that mean that I won't have to pay the FICA on the LLC income either because I'm already over the limit?
Also, does anyone have any thoughts on which of these options to choose?