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All Forum Posts by: Janet Behm

Janet Behm has started 18 posts and replied 141 times.

Ed, 

Lots, lots, lots of details. 

You need to talk with your tax pro. 

This is a usual case of: "It Depends"

How old are you? How close are you to retirement/death? and the list goes on. 

Tze,

You are livin' the life!

If you have a receipt for the dollar amount of the stay, you can claim it as a business expense.  

Credits are like cash.

Franklin,
Please contact my Associate in Dallas, at Hall Accounting & Tax
Ask for Merry, the Executive Assistant. She will get you set up with a consultation.
They specialize in High-Level Tax Strategy, using real estate as the primary vehicle. 
I will let Merry know to expect your call.  (I am avoiding phone numbers and websites so this response doesn't get redacted)
Good luck, Janet
Quote from @Ashley Stephenson:

I am actively looking for an REI-friendly CPA in Nevada and am struggling with where to look and how to know if they know what they are talking about. A BP-recommended tax professional in my area would be immensely useful!

Ashley, what city are you in? I'm part of a mastermind group, with members all over.
Quote from @Eddie Ray:

Im currently looking for a RE tax professional/preparer in San Diego, CA. Obviously they need to specialize in real estate rentals, holdings, and LLC.

Any help and direction would be great! BP would be great too but I do prefer to work in person so hopefully someone local

Eddie

Eddie, contact my friend, Raymond Sawyer, he is in San Diego. He is a tax strategist and uses real estate for most of his strategies.

Raymond Sawyer, CTC

Sawyer Accounting Tax




Post: For sale by Owner Lead

Janet BehmPosted
  • Accountant
  • West Jordan, UT
  • Posts 151
  • Votes 84

Sojourner,

I did not mean to offend.

I misunderstood your post.

My intent was "loving guidance."

Post: For sale by Owner Lead

Janet BehmPosted
  • Accountant
  • West Jordan, UT
  • Posts 151
  • Votes 84

Sojourner, 

It sounds like you would benefit from some investment training.

Do a deep dive researching "Due Diligence."

Check the National REIA (Real Estate Investors Association) web page and find a local association.

Then join the group. Talk to other investors and ask for guidance. 

Jumping into this deal, may or may not be good. 

Better to let this deal slide by rather than pull the trigger and be sorry for years to come. 

Patience and learning.

Post: 1st time home buyer programs/financial aid.

Janet BehmPosted
  • Accountant
  • West Jordan, UT
  • Posts 151
  • Votes 84

Manny,

Having your name on a Quit Claim Deed, is usually invisible to financial aid programs or First-Time Buyer programs. 

The circumstance changes if you "exercise" the deed. If you record the deed, with the county, you are in the public records. Check with your insurance broker too. You are taking on responsibility.

Then your name will be on public record and may be a fraud to apply for aid.

Post: Alternatives to Wealthability for tax planning

Janet BehmPosted
  • Accountant
  • West Jordan, UT
  • Posts 151
  • Votes 84
Tony, Specialized knowledge doesn't come cheap.
All of these services have more tax and financial advantages as you increase in 'cash-flow.'
If you are tap dancing around 100K to 300K per year, do an internet search for a local Certified Tax Coach/Planner.
They are engineered to do Tax Strategy for a set dollar bid and an assurance of substantial savings.

Post: WealthFactory or Wealthability

Janet BehmPosted
  • Accountant
  • West Jordan, UT
  • Posts 151
  • Votes 84

Katrina,

Both, WealthFactory and Wealthability have a target market of High Net Worth Clients. For people at that level, they are a very attractive investment. 
Both of them expect you to deep dive into your Business (generic and not focusing on real estate). Deep diving into your business, of course is essetial. Nobody cares about your businesses (Law and REI) like you do.

Think of it like our school system of 12-grades. These two companies are 10, 11, and 12. Many investors are in the lower 9-grades (10).

Let's aspire to wealth building and "graduating" to those types of investor services!

Best, Janet