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Money Talk
re: Tenants just offered to buy house - NEWBIE
Adding to the above post, to determine whether capital gains taxes will be owed, you must determine your basis in the property. Ask your CPA or look at your records to determine how you have been depreciating the home. Also determine whether or not you have made any capital improvements that would ...


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Money Talk
re: Looking to buy a lot tomorrow need advice! - NEWBIE
Pull a purchase agreement of the Greater Baton Rouge realtor site. You, as buyer, have the choice of where to close. Make sure there is a title opinion given by an attorney. The title company will order a title history(abstract). The attorney will review and make sure the title is clear. If...


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O-T Lounge
re: My deodorant ruins shirts - NEWBIE
Mitchum...


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Money Talk
re: 1031 exchange - NEWBIE
$1250 for a basic forward exchange is what I've heard. ...


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Money Talk
re: Title insurance--is it a good buy? - NEWBIE
A title attorney is liable for their title opinion for three years. What do you mean questionable servitude? If the attorney is aware if it, it has most likely been recorded and should state exactly what it is. In regards to title insurance, it's about your risk tolerance. To me, a relativel...


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Money Talk
re: sub-chapter S corp? - NEWBIE
[link=(http://apps.irs.gov/app/withholdingcalculator/)]IRS[/link] Enter your numbers in this tax calculator for each scenario....


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Money Talk
re: sub-chapter S corp? - NEWBIE
I don't feel comfortable giving that advice out. I am not a tax professional. I just know some of the benefits of filing as different designations. Found this on SBA.gov: [quote]Disadvantages of an S Corporation Stricter Operational Processes. As a separate structure, S corps require sch...


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Money Talk
re: sub-chapter S corp? - NEWBIE
I am not sure when you must designate as an S-Corp with the IRS. Maybe Poodle or someone else can chime in. I'm sure any CPA's office would know off hand. Remember, you can not switch back and forth from one to the other. I believe after several years, you can go back to filing as an LLC, but t...


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Money Talk
re: sub-chapter S corp? - NEWBIE
I think I could have worded that differently. If you have a single member LLC or a multiple member/manager LLC, you are taxed as a sole proprietorship or as a partnership. Both of these are taxed at year end when you file a 1040SE, self-employment tax. If you file as an s-corp, you do not pa...


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Money Talk
re: sub-chapter S corp? - NEWBIE
You can pay yourself a normal "fair" salary and also through distributions. Your salary will have taxes taken out of it. The distribution portion will not have the self-emp. tax and will be taxed at your person income level. I believe that rate is still 15.3%, so you can save yourself a sign...


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Money Talk
re: No compete agreements - NEWBIE
They are heavily disfavored in Louisiana, but that does not mean they are unenforceable. They need to specifically identify the area it applies and the duration. I would run it by an attorney before you sign. ...


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Money Talk
re: LLC question for rental property purchase - NEWBIE
[quote]Bama, how much were the fees for moving the properties to the LLC? I briefly looked into forming an LLC but was worried that I might have to pay ~1.5% of the value to move them to the LLC.[/quote] The fees are not a percentage to transfer, at least not in La. They include the cost of prep...


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Money Talk
re: LLC question for rental property purchase - NEWBIE
File the LLC prior to closing. It would help to have it before the purchase agreement is signed so that you will not have to assign the purchase agreement to your new LLC. You can literally have the LLC set up in a day or two on the internet. The title company will prepare a certificate of au...


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O-T Lounge
re: OT lawyers/debt collectors... - NEWBIE
What state was the judgment rendered?...


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Money Talk
re: Landowner liability protection using LLC question - NEWBIE
Create the LLC and then do an act of contribution to your new entity. Any real estate attorney can do that for a minimum fee. Are there any agreements in place that the other coowners need to consent to the transfer of your interest? Also, are there any current encumbrances against the prope...


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Money Talk
re: Real estate attorneys: is title insurance needed? - NEWBIE
I can understand your frustration with the way he handled it. I wanted your opinion because I will be in the field in a couple years. I want to hear as many client complaints as possible so I can avoid the same issues in the future. Thanks for the response. ...


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Money Talk
re: Real estate attorneys: is title insurance needed? - NEWBIE
[quote]and I guarantee he won't get a chance to do again. [/quote] You will not bring your future real estate business to the attorney because he is trying to sell you an owner's policy? Hope this doesn't come across the wrong way. Just curious as to why you made that decision. I would just t...


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O-T Lounge
re: D R Horton the builder - NEWBIE
They will try to force you to close with their in-house title company. They will offer discounts off the house price or upgrades. Then they will make up for it with closing costs. Get an early quote of the settlement fees that they will charge so you are not surprised at closing. eta: see ab...


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Movie/TV Board
re: Best movies on Netflix atm - NEWBIE
The Iceman...


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O-T Lounge
re: Recommend a cheap Android tablet to root - NEWBIE
Look at the nexus tablets like the poster above said. The nexus10 2 is supposed to be coming out very soon, so the price may drop on the original....


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Money Talk
re: Obamacare Tax repurcussions from sale of raw land - NEWBIE
My understanding is that the 3.8% does apply this year. But you will also own capital gains taxes. I believe at that income level, you would pay 29.8% in capital gains taxes. (20% cap gains, 6% La tax, 3.8% Obamacare) Talk to a cpa or look into a 1031 exchange to minimize/defer any potential ...


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Money Talk
re: Future Value of a Lease - NEWBIE
To get what he did, use excel: =PV(.04/12,20*12,4000)= ~ $660k If you open the function tool in excel, it will explain what each number is. You can then play with the interest rate to adjust accordingly for inflation. ...


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Gaming Board
re: Universal Remote for PS3 Slim and Samsung TV, any suggestions? - NEWBIE
Sorry, just assumed it worked. I have an xbox and it works. You need this [link=(http://www.amazon.com/Logitech-Harmony-Adapter-PlayStation-3/dp/B00267S7XW)]LINK[/link] You could set up different activities on the remote and use it in your living room and bedroom. That may justify the pric...


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Gaming Board
re: Universal Remote for PS3 Slim and Samsung TV, any suggestions? - NEWBIE
[link=(http://www.amazon.com/Logitech-Harmony-Universal-Remote-Touchscreen/dp/B009EIUH6G/ref=sr_1_3?ie=UTF8&qid=1382410400&sr=8-3&keywords=logitech+harmony+one)]Logitech Harmony One[/link] I have the previous model and have zero complaints. It has a rechargeable battery. Very easy to progra...


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O-T Lounge
re: Is this Samsung 55" a decent TV? - NEWBIE
You will have to go through a receiver to use those speakers....


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O-T Lounge
re: Breckenridge for skiing.. where to stay? - NEWBIE
Tyra 2 or something like that. Google map 4 O'Clock Road and right where it makes a 90 degree turn is the snowflake lift. Many of those condos are walk out/ski in. That lift typically isn't too crowded and lets you avoid some of the cluster like at the base of some of the larger peaks. ...


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Money Talk
re: Customizable Mortgage Amortization Schedule - NEWBIE
excel...


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O-T Lounge
re: Polite way to correct someone who calls you wrong name - NEWBIE
[link=(http://www.youtube.com/watch?v=gtz7d5NXRWg)]Christinith[/link]...


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Outdoor Board
re: My new hunting buddy - NEWBIE
Don't mean to hijack, but where did you get the doodle? Is that one a first or second gen? I have heard that you should try to get a g1. Is that true? On topic, that cur is a cool looking pup....


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O-T Lounge
re: House Title Company Cost - NEWBIE
If that includes title insurance, that sounds reasonable. I would recommend Hyde Title or Baton Rouge Title....


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