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NicMM
ParticipantThanks, Flu! I think I will contact the city for the rental for now.
NicMM
[quote=flu][quote=NicMM]I got a rental property last year, and by end of the year I rented out my then main residence, since I relocated to Bay area.
Do I need to pay such tax for both units?
I havent received any such statements yet. Should I wait or should I contact the city for it?
Thanks,
NicMM[/quote]I got to go to a lunch meeting soon. But short answer is that the city seems to only know to tax your rental by checking on your county property tax that your property is not claiming owner occupied.
You can read between the lines.[/quote]
ParticipantI got a rental property last year, and by end of the year I rented out my then main residence, since I relocated to Bay area.
Do I need to pay such tax for both units?
I havent received any such statements yet. Should I wait or should I contact the city for it?
Thanks,
NicMMParticipantIs it legal in California to raise rabbit/chicken for meal?
NicMM
[quote=GreenGoddess]My family has been preparing for about 3 years now.. It’s been slow going due to finances but we are getting there.. We own chickens for eggs and meat, just got a few goats that will be bred for milk and will be getting a few rabbits in the very near future.. We have also been working on solar power to get off the grid.. Food is a hot topic when it comes to a SHTF scenario and unfortunately if you are like me, you don’t have the equipment, know how or space.. Here is one option we’ve found for long term food storage.. http://myfoodinsurance.com has dehydrated foods that just take water to prepare, Lasts 25 years, compact packaging and has many option available such as soy, gluten and lactose free as well as kosher.. If you want, you can order a freebie pack if you pay shipping so you can try it.. Everything I’ve had so far has been amazing! This may be a great place for someone to start![/quote]
ParticipantHats off for Flu! you are like an IT historian.
NicMM
[quote=flu]I hate patent trolls.
But anyway, when I think of companies that exist only to sue other companies and extort money from them… I can’t help but think of one very famous company that got their axxes handed to them….
SCO….
Got I loved watching that company go down in flames…
http://en.wikipedia.org/wiki/SCO_v._IBM
Novell, you might not be that successful these days, but definitely hats off to you!!
Viva Linux….
But obviously, after going bankrupt, and being acquired again, they’re tried again…(under a different owner)
And in 2011…..DENIED….
http://en.wikipedia.org/wiki/SCO_Group
Burn baby, burn…
That said…
No way this is an “investment opportunity”. This is a speculative and gambling opportunity. Nothing wrong with it, but it’s definitely not an “investment opportunity”.[/quote]
ParticipantZynga stock should have a upward potential if online gambling becomes legalized. It announced to pursue this opportunity working with WYNN group.
NicMM
[quote=flu][quote=markmax33]Groupon is not even close to an internet 2.0 company. It masquaraded as one, but once they revealed their financials before the IPO it was clearly not a viable business model.
The real internet 2.0 companies will be based around click through advertising on the web and will grow tremendously. Companies such as Google/Facebook/ZNGA that have integrated ads will have tremendous upside while the world goes digital.[/quote]
Errr. Check out zynga’s stock price too? And their secondary offering that was priced well below then current market price……
hmmmmmmmmm[/quote]ParticipantVinesano, a desert wine from Santorini, Greece. Love it.
NicMM
ParticipantThat makes sense. Thanks, Kingside.
NicMM
ParticipantKingside,
I am wondering if this is allowed in the self direct IRA, considering the following case:
If you have an investment property that is gaining value and you want to sell it but dont want to pay tax for the gain. So you sell it to your Self Direct IRA for the same price you purchased, and then your Self Direct IRA sell it for profit (without paying tax).[quote=Kingside]True, but I would not say there is no benefit as you don’t pay any income taxes on your net rental income either, not even when you withdraw if it is a Roth IRA.[/quote]
ParticipantThanks, Kingside. I am thinking of use the IRA to buy precious metal now or real estate in future. But I read some argued that there is no benefit to hold a real estate in IRA as you dont get any tax deduct to your expenses.
NicMM
[quote=Kingside]There is a lot of variation on how custodians charge fees, so I would focus on this first in evaluating choosing a custodian for a self directed IRA.
This also means you need a more specific idea of what you intend your IRA to invest in.
I have a self directed IRA which invests in real estate, and for that I have gone with Equity Trust Company (which apparantly acquired Sterling). Equity Trust has an online no charge for ordinary course “bill pay” for paying regular property expenses which I find convenient. I am not aware of any other custodians who offer this. Other custodians will charge you for each check they write.
Their “Equity University” education program is mostly a sales pitch though which I find pretty worthless.[/quote]
ParticipantI found some discuss at LinkedIn. Some recommended SunWest trust.
Participant5yes,
Your husband and you are brave and with a big heart! Be careful with the drinking water when you are in Haiti. Boil water before drinking it.
Take care!
NicMM
ParticipantWish you well Flu.
-NicMM
ParticipantI recently moved from Burlingame to Millbrae. It feels a lot like UTC. Walk to shopping, Caltrain, and Bart. But there are air flight noise and train noise in some locations. And you have to look hard to find an apartment with in unit washer and dryer. With the price you offer you should be able to find some privately owned condo for rent that meets your criteria.
NicMM
ParticipantGlad to hear that. Thanks Henrysd!
[quote=henrysd]No. Expansion of 1099 to contractor for order above $600 was actually never taken into effect and it was already killed before it took effect due to complaints from small business owners – it created too much booking keeping burden and costs.[/quote]
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