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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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12051852 No.12051852[DELETED]  [Reply] [Original]

Advice needed from a rich fag or a knowledgeable fag:

I am in my 20’s don’t go to college and have a fairly decent job for my age. I have excellent credit (around 750) have credit cards with 5 figure limits (all low utilization) and just a car loan that’s been paid perfectly.
I am interested in buying a duplex or triplex, one side for me to live in other(s) to rent out.
Question is: what sort of taxes are associated with this? I am not sure if I’d be considered my own business or what exactly. Any help for a young fag would be extremely gay <3

>> No.12051857

>>12051852
what country? in canada it's counted as income so you take a pretty big hit.

>> No.12051858

This board is for chainlink and crypto mate.

>> No.12051886

>>12051852
Based, fuck 4channel

>> No.12051888

I’m 33 and what do those feel like IRL?

Inb4 bags of sand or salty coins and milk.

>> No.12051893

This board is for biz and finance fagg-o.
And USA. Not sure what the tax laws are pertaining to this, but really want to buy something soon and start owning some realestate instead of some imaginary coin like fags on here

>> No.12051912

>>12051852

Based boobies anon.

If your credit is good, you need to have enough mone saved up for the deposit and other expenses before buying.

>> No.12051917

>>12051852
Source on tits?

>> No.12051932

>>12051888
they feel nice. even better is to wiggle an oiled hard nipple with the back of your glans

>> No.12051949

OP here:
To all asking I just googled “tits selfie” for that picture. Just needed to get your faggot attentions

>> No.12051954

>>12051893
>being this clever & fun

>> No.12051971
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12051971

>>12051858
I came here to say this. OP confirmed likes men shitting in his mouth like a gay slut.

>> No.12051990

>>12051893
Owning a rental property is actually pretty easy and manageable from a tax perspective. You'll have to pay property taxes, typically assessed annually. You can roll that into your mortgage payment. The actual property taxes vary by state, county, and city, and are based on the assessed value of the property, so you'll have to look up what property taxes are for your area. Typical property taxes are around 0.5% to 1.5% of the value of the property per year.

If you're renting out the property, you will have to pay taxes on the rent as ordinary income, just like you would for any other income. That tax can be offset by deductions for any money you spend on upkeep, maintenance, etc. You'll want to create an LLC or S Corp to get the tax advantages and limited legal liability, but that's like a couple hundred bucks and an hour or two at any general practice lawyer's office.

Being a landlord is overall pretty manageable, which is why lots of people do it, but it's not zero work -- you will have to put in some time managing tenants, upkeep, and finances. Just be prepared for that going in.

>> No.12052208

>>12051852
>being this green
just rent it out without telling the taxman or via airbnb.

>> No.12052217

>>12051852
dude wtf her right boob is kinda bigger than the left one, that's pretty disgusting desu

conclusion: would not bang

>> No.12052616
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12052616

>>12051852
Join the Chainlink community if you really are a fag.