Selling a rental can have big impact on your tax liability

04.14.2014
Selling a rental can have big impact on your tax liability

Sorry to write about the rentals again today. It’s just consuming all my attention and I’m having a hard time thinking about anything else. We decided to put our rental home and 4-plex up for sale to take advantage of the HOT real estate market. I know we’d have to pay tax on the gain, but I didn’t realize just how much tax we’d have to pay. A Big Tax Bill I just finished our tax return with 3 days to spare. Whew! This year we don’t have to pay much tax at all because we came in under the […]

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Misadventures in Niche Site Building

04.11.2014
Misadventures in Niche Site Building

The following article is from Mike, our staff writer.  One of the biggest and most pervasive myths on the internet is that making money online is easy.  There is certainly no shortage of “experts” who are only too happy to share their secret formula for unlimited riches at the push of a button. Unfortunately, no such button exists. Sure, the barriers to entry are much lower with an online business and so are the startup costs (you can register a domain and launch a self-hosted blog for as little as a hundred bucks) but there are still no guarantees you’ll ever […]

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Our Kid Doesn’t Cost That Much (So Far…)

04.09.2014
Our Kid Doesn't Cost That Much (So Far…)

We all know kids aren’t cheap. If you’re not financially secure, a baby can wreck havoc on your budget. That’s one of the reasons why we waited to have a kid until we were in our late 30s. I’m sure you have seen the ridiculous amounts the USDA estimated a kid will cost. You can use the estimator at CNN Money (based on USDA’s 2012 estimates.) It shows we’ll spend $255,237 raising our kid until he’s 18 years old. That’s not even including college, so it’s a bit scary. Actually, I wrote about this topic two years ago, but now […]

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10 reasons why I’m not cut out to be a landlord

04.07.2014
10 reasons why I’m not cut out to be a landlord

Whew! It’s been kind of crazy around here lately. I decided to put our rental home and 4-plex up for sale and the whole process has been a bit hectic these past few weeks. Our tenants moved out of our rental home on Tuesday and since then, I have been fixing what I can. Next week, the contractors will take over and get it ready for sale. FYI, I manage the rental home myself and I have a property manager for the 4-plex. Why am I selling our rentals now? Things are just starting to turn the corner on the […]

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