Message from @wͫ́í̯̭̭̆̾nͣͣŃT̥̥͕̈́.exͯ̈́̉e͋͆̐ͮ
Discord ID: 509711857477746688
we have a couple s corps as well
Start a rental mgmt S corp
charge "fees"
yea, thats the property management, co
Honestly, the new tax laws make the C Corp the best way imo. Just keep it in your Corp.
Ew C corp
biggest tax burden
No I know but the tax rate on Corp is Dick.
rental income is treated differently
I’m in a height state income tax state so it works here. Don’t know CT tax law.
jam im gonna only tell you this once
but yea, when I sell, if there was to be major gain, some of that would play. Tax law is concerned with profit though
take an equity loan out on your property
totally not the issue here
have renters pay cash
deposit less than 5k per month
whats left over is yours to spread
Ron are you Russian?😂
equity loan is your wash machine
yea man, i dont pay taxes. asset stealthing is the name of the contractors game
2.5% I pay on 190k.
pretty gold, in that regard
pssssh then you good vro
dont let it get appraised for over 250 tho
im not. property value is property value
then you cant do 1031 exchange
housing market is housing market. I want out. I need out. there is no work worth doing here any longer. no one builds. no one improves
take a loss with either S Corp and funnel equity loan gains back into it via shared depotis in cash
Banks never check savings accounts
then bankrupt the corp, lol?
No
You exchange the asset for lower then appraised value, mark down the loss, take equity loan out on it
nvm. its cool man, Im not gonna go crazy here, just wanna sell out and leave
renters pay more thann the payments
yea, if I kept renting both id probably be fine
though, at some point, even renters are hard to come by
Cash is king
cash is king
Id even consider selling your personal home to the other S corp as a rental
then just live in it