u/Niko120

Starting next year I will be renting out a home that belongs to my wife’s family. My wife and I will receive 75% of the revenue ( the payments will be made to me from the tenant) and I will be making a 25% to my sister in law.

Can I just list my total of the revenue for the year and leave here to report her portion (she almost certainly won’t) or am I supposed to report the total and then just charge her for her portion of the taxes?

Doing the second choice would result in us paying more taxes because I am in the 22% bracket where she is in the 11%

Let’s say I spend $5,000 on repairs before January of next year getting my soon to be rental home up to standards to be lived in but I see no income until the 2027 tax year. I can’t deduct those expenses from 2026 because there is no revenue to deduct them from. Can I deduct them from 2027 revenue even though the repairs were not paid for during that tax year?

I know they have them in the store and I need to replace one this weekend but I don’t want to drive the 30 min to the store to get it. My Home Depot has free delivery. If only their search feature didn’t suck ass

Can anyone be so kind to hook me up with a link?

I’ll be going into my first foray in property management soon and one concern keeps coming up. The house is on a 1.5 acre lot in the country and lawn mowing is quite the task. It seems like a lot to expect a renter to keep up with and doing it myself would be a pretty big time commitment

The other option is paying a landscaping company which would be $200 minimum 2x monthly. I’m already blown away by how much of my revenue will be going to property tax, income tax and insurance. Another $400 per month and there’s not going to be much left for me.

What would you guys suggest. I’m in Texas if that matters and I could possibly provide a riding mower for the tenant

All I find is the lifetime gains on each index under the “positions” page. I’d like to know the ytd gains on each position or better yet, my entire portfolio. This seems like an obvious feature have on the app

Oven is broken and quick bake is the only thing I can get to work. Gusts will be here at 1pm. Normally I cook pork ribs at 300 for 2.5 hrs then 350 for 30 min. Idk if it’s part of being broken but the lowest quick bake will go is 350

Maybe cut the cook back to 2 hrs total? Will quick bake even work for 2 hrs? I’m freaking out here

So at a 10% return, which is the average return of the S&P 500 over the last 20 years, (I know this is on the high end of expected returns, but it is the average of the last 20 years) my investment should double about every seven years or so. I am currently 40 years old with about a quarter million in retirement/investments so the math is as follows.

40=250k

47=500k

54=1 million

61=2 million

68=4 million

I grew up poor so $4 million is an insanely high amount of money to me, how is it this easy? Why doesn’t everyone have multi millions by retirement? I feel like I’m doing the math correctly, but it just doesn’t seem right. And this doesn’t even count future contributions. It’s just my current with nothing added