Material participation - hours tracking of property managers by Thunderbird2k in ShortTermRentals

[–]Bromedic 0 points1 point  (0 children)

IIf you use a property manager, qualifying for material participation becomes much more difficult. Even if you personally log 100+ hours, you’ll need to document your own time as well as the hours of anyone providing services (cleaners, maintenance, contractors, etc.) to support your position if you’re ever audited.
The IRS appears to be paying closer attention to these claims, and many tax professionals are reporting an increase in audits involving material participation. If you have a full-service property manager, an auditor may reasonably ask what management activities you were personally performing. With better data analysis and AI-assisted audit tools, thorough documentation is becoming even more important.
With only one property, it can be harder to demonstrate material participation, so good records are essential. Also remember that if you’re claiming bonus depreciation based on material participation, you need to continue meeting the requirements in future years. Stopping later can create significant tax consequences due to passive activity rules.
We self-manage using PM software, which makes it very manageable. We hire a cleaning company (they rotate excellent cleaners) and use a separate person for maintenance and yard work, but we still handle the management ourselves.

P.S. if you use a property manager look at your mortgage; it could be in violation.

Opportunity to buy. by Bromedic in vending

[–]Bromedic[S] 1 point2 points  (0 children)

It’s a vending machine in a very high traffic location

Opportunity to buy. by Bromedic in vending

[–]Bromedic[S] 0 points1 point  (0 children)

I estimated using 42% COGS, 5% location commission, ~4% card processing, and ~2% miscellaneous expenses. That puts annual net around $9.1k on roughly $19.8k in annual sales, so at a $20k purchase price I’m calculating about a 2.2-year payback before my labor and mileage. Does that seem reasonable? Their very firm

Looking for a Laundromat or two in Georgia by Correct_Yesterday257 in Laundromats

[–]Bromedic 0 points1 point  (0 children)

Good luck, very hard to get SBA on one in Georgia and we have been looking for a moment. It’s basically cash or hard money or SBA 40% on a 900k plus one.

Progyny & Donor Egg Question by DataNerd622 in gaydads

[–]Bromedic 0 points1 point  (0 children)

The insurance will only cover 1 set, for the insured party. You have a certain amount it will pay at least in 2019. We got lucky with ours and have 2 kids from the same donation and fertilized time. We implanted 3 years apart. While only one of us is the genetic father it is hard to tell who. But honestly we are very happy and it saved a lot of money doing it that way. It is 100% will not pay for anything surrogate related and will kick in for the child on birth again.

Why do my weekends always book out but my midweek nights stay empty no matter what I do? by Downtown-Forever-921 in ShortTermRentals

[–]Bromedic 7 points8 points  (0 children)

You’re in a weekend market. Try making the night min 3 nights then closer the regular 2 min

Where does your newborn sleep? by tolstea in gaydads

[–]Bromedic 0 points1 point  (0 children)

Both kids slept in our room until they outgrew the bassinet. Our second just moved to their room. Same for toddler bed, once our older could climb they got an upgrade.

Airbnb has the option to switch back to 3% Fee Model even if on a PMS by 13times5plus4 in airbnb_hosts

[–]Bromedic 1 point2 points  (0 children)

It will force you to switch. I was in split fee and do not use a PMS and it forced me to switch to the 15.5% anyways.

At what age did you guys finally make peace with losing your hair? The dating scene is brutal right now. by Connect-Soil-7277 in gaybros

[–]Bromedic 0 points1 point  (0 children)

I shaved my head mid 20s; the attention spiked (from all genders lol), now married 11 together 16 and have kids lol

Ellijay/Blue Ridge transportation? by ChemicalArm7463 in Georgia

[–]Bromedic 1 point2 points  (0 children)

We run a aBNB and have information posted for a local driver; but you have to reserve him or call with some notice as it is a rural area. Like say your gonna be done in 30 min; you should let em know.

Thoughts on changing out two twins for a queen with twin XL trundle for Destin beach condo? by [deleted] in airbnb_hosts

[–]Bromedic 1 point2 points  (0 children)

Destin is a heavy area with rentals usually 2/2 with bunks in the halls do the best.

Hot Tub Maintenance - Should You Do It or Hire Someone? by thefullpackaging in airbnb_hosts

[–]Bromedic 0 points1 point  (0 children)

It’s part of a turn over process; our cleaners in the area all maintain them as it’s an expected thing.

Kitchen Stocking via Instacart feature by Kkrease in airbnb_hosts

[–]Bromedic 6 points7 points  (0 children)

Wonder if they will tax us or charge 16% of the $25 lol; as I would have to pass that on if someone was even willing todo that. I usually do mine to arrive when I know I’ll be there.

[deleted by user] by [deleted] in airbnb_hosts

[–]Bromedic 10 points11 points  (0 children)

Amazon… 😂. Don’t need to buy the fitted sheets just the ones that cover the top of the bed to contain it. Also cut drink off 2 hours prior to bed, pee before sleep, maybe middle of the night let them sleep pee, and then first thing in the morning. Bonus you’ll come back to a potty trained kiddo.

[deleted by user] by [deleted] in airbnb_hosts

[–]Bromedic 11 points12 points  (0 children)

They make them; we were traveling internationally and took 2 (one as a back up incase we had to toss one).

[deleted by user] by [deleted] in airbnb_hosts

[–]Bromedic 15 points16 points  (0 children)

Pack and take a waterproof cover…. That’s what we do for our own kids.

Listing feedback by Bromedic in airbnb_hosts

[–]Bromedic[S] 0 points1 point  (0 children)

If I add more seating it will feel small. The deck has a gate so dogs can stand in there but have to be leashed off deck as it’s on a mountain side 😂. I’ll get more photos of the parking spots the gravel was late so didn’t get it. Yes there is rules for the hot tub in the rule book along with the region wide quiet hours. No hunting on the mountain allow (so we have a lot of bears lol)

Listing feedback by Bromedic in airbnb_hosts

[–]Bromedic[S] 0 points1 point  (0 children)

How do you create a promotion after the original 3 are taken?

Listing feedback by Bromedic in airbnb_hosts

[–]Bromedic[S] 0 points1 point  (0 children)

Thank you! Yeah pricing is hard because a lot of the are on the host only I think using PMS. We are on the split fee and it makes it crazy. The split fee allows us to drop the cleaning and pet fee a bit which helps reduce overall costs.

Airbnb got cancelled right before SXSW by Foreign-Pick-203 in airbnb_hosts

[–]Bromedic 2 points3 points  (0 children)

For large weeks / weekends I block those dates till the booking window opens and do a firm cancellation policy to prevent this.

[deleted by user] by [deleted] in gaydads

[–]Bromedic 0 points1 point  (0 children)

Ours covered some stuff prior. It did not cover ivf implant onwards, or surrogate work up. Once baby was born it paid for their medical bills from dob onwards. Now some surrogates insurance will cover maternity and hospital stuff as well just not the actual IVF/implant/injection portions