Of course, the average American’s net worth is far less than this and maybe that’s why no one is talking about it, but I thought it was at least worth a short article to set forth the facts.
A quality and successful vacation rental property needs to be in the right location with consistent demand and not run into any local regulatory snags.
Safeguarding our personal information from identity theft and not letting ‘the world’ know where we live, is very different than hiding a rental property or asset. Otherwise stated, our personal privacy is different than the privacy needed in keeping the location of an asset private. The important point I want to make in this short article is that we need to understand what we are trying to protect, and then be targeted and exact in our privacy protection strategies.
Every week, if not every DAY, one of the attorneys in my office
There are several ways to handle a parent’s home depending on their particular health or financial situation. At a bare minimum, your parents should have a Revocable Living Trust to ensure the orderly and effectively transfer of the home to the family and avoid probate in states where the expense is significant.
If you are considering ‘checking the box’ on your tax return that you qualify as a Real Estate Professional, make sure to ‘run the numbers’ and see what the actual tax impact may be on your tax return. As a real estate professional, you are able to deduct 100% of your rental depreciation against ANY other type of income on the front page of your 1040.
There comes a time in the lifespan of just about every business when the potential for substantial growth comes to fruition, and additional capital is necessary to make that growth happen. It’s at these moments you’ll probably start looking for people to invest in your business.
Rental property can be an excellent investment tool and it often is. However,
It’s scary for many of us to think where our address is posted publicly and how easy it would be for someone to find it.
I meet one on one with at least 1,000 clients a year to discuss their business