All Forum Posts by: Bryan Snyder
Bryan Snyder has started 7 posts and replied 30 times.
Post: Alternative To Copper Piping For HVAC Units
- Posts 34
- Votes 3
My FIL owns his own HVAC business, I will ask him if PEX is allowed for such installs. I don't know enough about it to know if it is suitable for that application.
If it is use it! It's cheaper and easier to install and repair if needed.
Post: CPA in the house? Quick question...
- Posts 34
- Votes 3
Originally posted by Charles Perkins:
Is this a single member LLC. If so the business is treated as a sole prop for tax purposes.
Is it a multi-member LLC. If so it would be treated as a partnership.
You can also elect to the LLC to be treated as a corporation.
You will be required to pay a reasonable salary if you elect to be treated as a corporation. If you do not elect to be an S-corp then the corporation will be taxed and you as an individual would only be taxed on the salary and dividends that you pull out. All other entities are pass through entities and you will pay tax passed on your share of total income and expenses.
So if you leave cash in the business, generally speaking it will be taxed. A C-corporation will allow some cash build up (several hundred thousand) before an accumulation tax is assessed.
Thank you for the info. I have been curious as to whether an S corp would be beneficial to me. It would be only myself as a shareholder. I simply want myself and my "company" to pay as little in taxes as possible.
Post: Does anyone bill rent bi-weekly?
- Posts 34
- Votes 3
You know, making 26 payments a year instead of 12? You end up with one extra "month's" rent.
Would most of your tenants be bright enough to notice that it's just extra profit for you? I'm wondering if it could be used to create value to the tenancy for them like if they go an entire calender year paying on time, no drama no complaints/issues, they get a "rent rebate". They are happy as a pig in poop, you get your rent and no drama...or you could just keep it. :mrgreen:
Do any of the automated rent collection sites offer bi-weekly rent collection?
Post: CPA in the house? Quick question...
- Posts 34
- Votes 3
If you have your properties in a LLC and have separate business accounts are you only taxed on money you take out (salary) from the LLC? If there is extra cash that I could be pulling out as salary but don't and it stays in the business account just building what are my tax implications?
Post: Alternative To Copper Piping For HVAC Units
- Posts 34
- Votes 3
You can get infra red game cameras from Cabelas, gander mountain etc etc that are motion activated and snap and save pics or video.
Post: Do you provide internet to your tenants?
- Posts 34
- Votes 3
Originally posted by Josh Green:
Originally posted by Tim Wieneke:
who still pays for internet porn?!
No kidding. It's everywhere, and it's free....So I hear anyway. :mrgreen:
Post: How nice to make low-income rentals look?
- Posts 34
- Votes 3
I have found that a big improvement can be had if you have the time and are willing in doing the yard maintenance yourself. I edge the sidewalks and driveway, weed eat, trim hedges, mulch where appropriate.
Hired lawn care never does as good a job as myself and it costs me just a little time. I take pride in how it looks when done. and it really stands out.
I also use that as an excuse to keep a weekly eye on the property It seems people are less likely to try to get away with stuff when they know they have an interested party watching things.
I have found that if you deny pits/dogs in general you save yourself alot of hassle as it seems that there are a few target demographics that seem attracted to pits.
Not to mention you save yourself and other tenants and neighbor from noise, stench, dead grass, holes, torn up/marred fencing floors etc etc....
Post: Lawn care included?
- Posts 34
- Votes 3
http://www1.zoysiafarms.com/
Install some of this in the yard and let it take over and choke out the regular grass. It is a hybrid grass grows very slowly, is very durable and very resistant to drought/low water. It also grows very thick and will literally choke out many weeds.
Spread the plugs out and just let it spread naturally.
Post: Separate Bank Account for Rental Activities?
- Posts 34
- Votes 3
Originally posted by Mark Claire Updegraff:
Ugg! There are so many extra fees for business accounts. The banking industry is such a scam... I'm still searching for that perfect local bank that treats me like a human and not their own personal ATM.
:roll:
Find yourself a good credit union. Their fees/rates are usually better and the service more personal. We belong to the Olean Fed Credit Union in the southern tier and love it. The service, products and fees/rates are exceptional.