All Forum Posts by: Itiel Latova

You cannot claim your entire tuition as a write off. Uncle Sam does give you credits and deduction if you meet the requirements. Google "Lifetime Learning Credit" and "American Opportunity"

@Mindy Jensen are there transcripts for each podcast or do only some of them have the transcript available? (I am looking for transcripts for show 211)  Thanks!

Is PMI that is paid on top of the mortgage payment also deductible?

Hi Erin K. I have 2 soda vending machines in apartment complexes. I use Coca Cola, they basically give you the vending machines for free, catch is you need to order the soda from them ( they happen to give you a good deal on them) and they service the machines. I fill them myself so I keep all the money from them, however you can have them fill them up and they will take a cut of the proceeds.

@Linda S. thank you for that clarification! as far as repairs go.. does the PM take care of that as well and then just bill the landlord for the parts/labor? 

Hi all, this is a tad off topic... but I was wondering how much ( ballpark range) do management companies charge ( is it per property/per unit) and what services are typically included in that price or is it different and unique for each company?

Hi, I would get a CPA onboard just to make sure everything is in check until you guys have a handle on things and then you can take it in your own hands. Also Quickbooks is a fantastic software to utilizes, but it comes down to personal preference. Some folks like having a live person to speak to for legal, tax and general accounting questions, something a good CPA can provide. Best of luck!

Hi Garrett Gasser , LLC would be the way to go for your situation. They are quite simple to open up ( depending on what state you are going to file in, there may be an annual fee just for doing business as an LLC). From my understanding, you would first purchase the property then transfer it to an LLC after you have acquired the title for the underlying property. Word of advice, you should get a CPA and/or attorney on your team to help you navigate through these legal and tax issues so you are not stuck in a sticky situation down the road.

Ana G. Hi! Can you please send me a copy as well?

Thanks, will do!!