EIDL Loan interest savings It is smarter to make the EIDL loan payment as soon as possible after the new statement is available? It seems like I pay less interest and more principal if I do that. Interest amount is calculated differently than a normal credit card? Excellent question — and you’re absolutely right to…
1031 Eligibility Questions My wife and I currently own (through an LLC) 3 duplexes along with my parents (their ownership is individually not LLC). We have been tossing around selling these properties. We also have a daughter that’s going to be in school for the next several years, and have been thinking about buying a…
$500K EIDL Loan on verge of bankruptcy I have a question. We have a 500K eidl. no more hardship. We are no longer running that business and have started another one in a completely different field-because of covid. They forced us to both be PG to get the funds we needed to keep our employees(so…
How Do I establish Business Credit for a new LLC? I’m trying to apply for business credit and was told to Apply for net 30 accounts in the business name. You need at least 4 tier 1 tradlines reporting to get a paydex score. What does this mean? What are your recommendations? Excellent question — this is…
Levy Bank Account If the IRS levy my bank account is there any way I can set up a payment plan and possibly give me the money the took away ? Has this ever happened to any one before? I had money for my rent but now I’m going to be short at the end…
Legal Ways to Lower Tax Burden Hello, I have recently had quite a change in income. My tax estimate shows about a potential $600,000+ owed for fed and state. I’m here asking because i truly don’t have anyone else to ask. I don’t have a financial advisor, have mostly been self taught financially in my…
1031 Exchange on a Vacation Rental I have a vacation home in Florida that if sold, would incur a significant gain. The property is regularly rented (140 nights a year) and generates 115K/yr. My problem is that my family uses the house about 50 nights a year – which is my concern. Usage is mostly in the…
Can IRS garnish my husband’s wages for my IRS tax debt? I currently owe about $60,000 to the IRS for the combined tax years of 2023 and 2024. I have no assets and I am self-employed, and would eventually like to marry my fiancée but I don’t want to put his wages at risk. If…
IRS Letter Code 570 $12K refund 2023 I am at my wits end. Tried to be patient with the code. Then spent the last few months off and on trying to contact the irs and use all the hacks to get to a real person – impossible. What can I do? What recourse do I…
SBA default on EIDL I see many posts about SBA loans with no PG default and after closing the company the debt clears. (Lack for better words). I have a colleague who runs a small art company and took an SBA loan out during the pandemic. No PG and it was for about $25k. She has been…
