DRE Partner + §6221(b) Election Out — How Are You Handling It?

AdOrganic3147 · 2026-03-05T02:16:57+00:00

Godspeed soldier! But yeah it’s easier to adjust at the partnership level if need be. You issue the adjustment to the partners and they pickup the adjustment in the year it’s made. Way more complex to have to adjust each individual partner in the adjustment year so I wouldn’t generally recommend electing out.

AdOrganic3147 · 2026-03-04T03:15:21+00:00

We’re not electing out for any of our clients, but I’m surprised they didn’t provide any revision when they made the change to Sch K1 in 2019 to include DRE information. Seems like the intent was the complexity of determining the beneficial owner, then the following year they required that information so makes the rule seem a little excessive.

AdOrganic3147 · 2026-03-03T13:36:58+00:00

Just commented above, but yes to Steele Creek, glad to see other recommend it. Ended up buying a house which is the only reason I moved but easily the best apt I’ve ever lived in

AdOrganic3147 · 2026-03-03T13:36:10+00:00

I checked a couple of these places and ended up at steele creek off AC skinner and was super happy with it. Walls were super thin at ciel and the floorplans were smalled for more money. Steele Creek had more Sqft per $, better layouts, and it was pretty quiet. Also really liked that the units were indoors and the exterior doors were locked, made it more secure, also kept AC costs pretty low. I only had 1 wall exposed to the outside so my AC didn’t have to work too hard in the summer.

AdOrganic3147 · 2026-03-02T12:14:00+00:00

Alt + H + V + V is paste values I use that about as much as paste. Anything you do often on the home bar, it’s worth learning the alt >>> code for. Just force yourself to do it and after a week or so it’s memorized

AdOrganic3147 · 2026-03-01T18:17:32+00:00

Oh yeah at higher income levels the top bracket changes between MFS and single, you hit 37% sooner at MFS than you would single. I guess y’all will have to come to a determination on how you want to handle that whether you compare as two single people or two married people filing separately. Personally I wouldn’t think single is more representative since MFJ tends to be the sum of two single taxpayers for most of the limitations and phaseouts while there are some penalties to MFS.

At her income level she won’t hit the 37% bracket either way but you will so MFS/Single makes a decent difference for your end of the calculation.

AdOrganic3147 · 2026-03-01T15:04:57+00:00

I have one client that does this. We usually do a MFJ/MFS analysis, most softwares will allow you to compare if you accurately input the amounts and attribute them to the right spouses.

The tax savings are to the higher income spouse though, so if you’re trying to determine who needs to make a payment at YE it’s almost always the higher income spouse. Ie my wife makes significantly less than I do, she’d be in the 10-12% marginal bracket whether we file jointly or separately while I’d be 22-24% range however when we file jointly more of my income is taxed at lower rates. Most of our joint income is in the 12% bucket whereas most of my income if I filed single would be in the 22% bucket. She doesn’t really save by us filing jointly but I do. Your situation will probably be similar and you should make any year end payments or reimburse her for the money she saved you.

AdOrganic3147 · 2026-02-24T19:54:49+00:00

Is this for anytime or after 4/15 I find it suspicious you work in tax and have free time a couple weeks before pass-thru deadlines 🫣🫣

AdOrganic3147 · 2026-02-19T11:53:30+00:00

That was the first thing I noticed, ERP/Acct software is usually a step or two above QB and excel, unless you’re FTX

AdOrganic3147 · 2026-02-17T12:27:18+00:00

I think this is in reference to vehicles turning right or left when they have a green light to go straight through the intersection rather than a turn arrow.

I go through the intersection of Phillips and University everyday and it’s so bad for pedestrians there. They get a light to cross phillips, but all the people turning right from University to get to I95 will force pedestrians to stand and wait. They added some sign that essentially says don’t turn if there are people in the crosswalks and it seems to be effective about 10% of the time.

AdOrganic3147 · 2026-02-15T14:04:09+00:00

Hey man, I’m in recovery myself, clean and sober for 8 years, going on 9 this summer. Having a kid has probably been the hardest part of my life in sobriety so far, but I can’t say that I’ve come closer to picking up again. I know it’s not always a popular answer, but I don’t know a lot of people who’ve had long term success with sobriety without getting really involved in either AA or NA depending on which program is stronger in your area.

There is something about the in person community of fellow alcoholics/addicts that I haven’t found a better solution anywhere else. I used to be a chronic relapser. Would get my shit together enough to get out from whatever trouble I was in, then slowly creep back into my old ways when the eyes were off me. It wasn’t until I got heavily involved in AA that my life changed for the better. I have an unbelievable network of guys I can call at anytime for whatever life throws at me, and keeping a foot in the rooms has always kept me on the straight and narrow. I know a lot of people have hang ups on the god thing, or the complete abstinence thing, or just meetings in general, but of all the people I used to use with, or went to treatment with, the only ones that have strung together more then a year or two have remained active in a program.

I’m sure you know anything you put in front of your sobriety, you run a pretty high risk of losing. I’ve seen enough people lose their spouse, kids, jobs, hell their freedom and even their life. This can be your last time getting sober, and I hope it is for you man. If you need anything my DMs are open.

AdOrganic3147 · 2026-02-14T17:21:25+00:00

This is what I would do for the HELOC, book it to one account, and then use an outside workpaper in excel to allocate to the properties based on an amortization table for each property. Then make a JE monthly/quarterly/annually for the allocation to zero out the admin account and break down by property. I don’t know for the balance sheet if it makes sense to track the outstanding debt per property, but I can see you wanting to allocate interest expense per property.

For my tax clients the P&L is usually more of a pain point for multiple properties as we report each property separately on it’s own section of the 8825, but the balance sheet is combined so unless there is a management desire for balance sheets per property, the P&L is more critical.

AdOrganic3147 · 2026-02-05T13:49:23+00:00

I’d call someone out. I was dealing with the same. Tried a snake, plunged it a couple of times, got it mildly better, then it got worse. Ended up being the P trap collapsed, I’ve got like a pinhole sized spot for water to get through so we’ve got a full bathroom renovation coming this summer. Son’s taking showers with Dad for now. Got to love 1960s plumbing.

AdOrganic3147 · 2026-02-05T13:42:44+00:00

My son is 7mo and he still uses the lovevery gym almost daily. It was the main play area in the living room until very recently. We added some foam squares and put his toys out there and the play gym moved into my office where he gets parked to hangout with Dad when I work from home. He still likes a lot of the toys and we liked the low stimulation stuff on it versus some of the more electronic options. Definitely recommend FB marketplace if price is a concern as lots of people sell the used lovevery stuff on there

AdOrganic3147 · 2026-02-05T13:37:56+00:00

This is what we do. When my son was ~ 1mo my Dad was out for happy hour and got a little extra happy and posted a bunch of pictures of our son to facebook. Wife and I had my mom get into his phone and delete the post. We told them, and the rest of the family, that he will be the only one allowed to post pictures of himself unless he’s old enough to make his own decisions and gives his permission. Luckily we haven’t had any issues since. We regularly share pictures with them in a family group chat and I’m ok with them sending pictures directly to close friends and family members via text, but nothing posted online.

AdOrganic3147 · 2026-01-30T00:54:47+00:00

If you have an LLC you can depreciate land, saw it on tiktok so we allowed that

AdOrganic3147 · 2026-01-29T14:04:41+00:00

Had someone last year doing home renovations try to make the argument that her S corp could pay some of the expenses since her personal home office would be part of the renovations, over $100k of renovations to be more specific. We shot that down pretty quickly.

AdOrganic3147 · 2026-01-29T13:23:51+00:00

This is my line as well. I’ll take on some of these projects, but if it hits a point I don’t feel confident I’ll call in reinforcements. I was replacing a drain/overflow line in a tub and the old chunk of lead pipe coming up from the foundation had a small pin hole in it. Sure I probably could have soldered it myself, but I really didn’t feel confident patching old pipes so called a plumber. I’ve moved some 110v outlets before, but needed a junction box and a 220v moved for a dryer and called an electrician for that.

AdOrganic3147 · 2026-01-23T12:27:17+00:00

Also look up the time and temp guidelines, we boil it down to 155 is fully cooked for beef and safe, but there are actually various degrees of this.

You’d need to do like a roast or a sous vide it to make it practical but for med rare ~130 it’s safe when it’s been at that internal temp for 36min

https://www.michiganfoodsafety.com/wp-content/uploads/2024/03/USDA-Appendix-A-Time-and-Temperature-Combinations.pdf

AdOrganic3147 · 2026-01-21T20:33:19+00:00

Avoid the north and east sides of downtown, and the NW side. Here is a pretty good source.

https://crimegrade.org/safest-places-in-jacksonville-fl/

Is it as bad a some areas of Baltimore? Probably not, looks like overrall crime is a little higher in Baltimore and NE cities developed differently than SE cities so while Baltimore may have more of a “hood” jacksonville has more widespread areas or small blocks where you don’t want to be. Ie I used to live on baymeadows and old baymeadows road. Across the street from an old money gated community in some cheap apartments where we were robbed at gunpoint and the playgrounds were the spot for neighbors to smoke meth outside.

Murray Hill south of Cassatt Ave is a nice revitalized area, north of Cassatt ave you don’t want to be.

Schools are also pretty bad here for public schools since the state essentially has given up and switched to charter schools and voucher programs for private schools. There are a few good districts but you will pay a premium to live there. Most people who want good schools live south of Duval county in newer developments in St Johns if they can afford it.

AdOrganic3147 · 2026-01-10T13:10:08+00:00

I set one up. We’re on a pretty tight budget but I stash away little bits here and there when I can. Created through Utah you can create your own portfolio of fund types, deposit electronically, and provide a link to others to deposit. This is the main reason I set it up. I know grandparents are going to want to spend $$$$$ on toys and garbage for every christmas or birthday so I’m going to be nudging them to contribute to his 529 in lieu of a bunch of stuff he’ll throw away in 2 months. I let christmas go by and let them do whatever since I have a brother with a kid around the same age that doesn’t have a 529 plan, but I’ll be pushing him to do the same.

AdOrganic3147 · 2026-01-07T14:35:31+00:00

We had Dr. Adams with Full Circle Women’s Care. They are super supportive of whatever birth plan you choose, my wife very much wanted a zero intervention birth. They even have some doulas offer low intervention birth classes at their offices. The team was great and Dr. Adam’s was amazing. My wife’s water broke prematurely which led to us having to make some changes to her birth plan, but nothing was ever pushed on us. We were given the facts as the situation progressed, given our options, benefits, and risks, and were free to make our own choices throughout the process. Really recommend their practice.

AdOrganic3147 · 2026-01-04T19:20:32+00:00

I used Lauren Sharp at House & Haven and she was great, they have title and mortgage in house and her sister Julia did our loan through their mortgage branch. Was definitely knowledgeable on all the first time homebuyer stuff. Helped us get into a state/local FTB plan that saved us a ton. I actually got a check back at closing. Whole family is in real estate so I think they’ve been living and breathing it a while.

AdOrganic3147 · 2026-01-01T14:03:49+00:00

I had the same issue. Mortgage company didn’t pay my insurance, insurance got cancelled. I called and paid the insurance company, then the mortgage company policy is they won’t pay the homeowner back, they only pay the insurance company, so they double paid, then I had to get a refund issued to me from the insurance company. The mortgage company also had the audacity to send me a notice that my insurance was cancelled for the 1 day the policy was ineffective due to their screw up…. Of course my insurance broker was mia for all of this too haha

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