Dec 28

It is clearly advantageous for most people who have businesses or itemize their personal deductions to pay as many deductible items as possible in the next couple of days.  (Of course, check with a tax pro and not rely on some landlord you found on the internet before acting)

This could include property taxes, general bills due in the next 60 days, and state estimated income taxes. Perhaps if you have subscription based software etc., you could get a discount by switching to annual instead of monthly payments and move that payment into 2017. Same if you are on an installment plan with insurance let’s say.

We paid as much as we could and I’m feeling a bit broke today.  Knowing so many others had to do the same, it got me to thinking.

My prediction is retail and things like autos and refrigerators are not going to sell well for at least the first quarter of 2018 as so much was spent by small business owners in the final two weeks of 2017.

If you are into the stocks and options, perhaps there is an opportunity to make some money, knowing that the economy will be depressed for a couple of months as people recover from the forced spend to move tax deductions into 2017. (But again, don’t take my advice as I am Just A Landlord)

Dec 23

Joe and I have stayed in touch occasionally in the couple of years since he left the AASEW for Princeton. In fact he gave me a really cool Princeton tee shirt for encouraging him to take the leap from Milwaukee landlord to attending one of the top academic schools in the world.  Wearing it is the closest I’ll ever get to an Ivy League School. 😉

 
I was talking to Joe yesterday.  He was describing his new position as Director of Lafayette univerisity’s IDEAL Center for Innovation and Entrepreneurship.  What a great opportunity for him to be at the forefront of innovation and entrepreneurship at a nearly 200 year old college.
 
I asked if he was still in a hurry to rejoin the ranks of Milwaukee rental housing providers.  The answer was ’No’ of course…
 
Then Joe went on to mention that he gave a TED Talk, while at Princeton.  So if you want to learn Joe’s story… It is inspirational.
 
 
Dec 21

 

If landlords like Hahlbeck go out of business, there will be even less affordable housing for low-income families, says Heiner Giese, an attorney for the Apartment Association of Southeastern Wisconsin. Both landlords and tenants agree that a lack of such housing is at the heart of the problem.

Dec 21

This week’s tax change is large and complex.  I’m sure attorneys and accountants will be kept employed for years, determining what it means to the rental industry.   In my search for answers I found a good article that is worth sharing.

Final pass-through rules help some firms more than others

A new exclusion or deduction of 20 percent of ‘qualified business income’ will effectively reduce the tax rate on such income by 20 percent. Thus, qualified income otherwise taxed at the top rate of 37 percent will be taxed at 29.6 percent. Income otherwise taxed at 24 percent, for example, will be taxed at 19.2 percent. Self-employment or net investment income taxes, where applicable, would be in addition to these amounts.

Dec 02

When I was just a wee lad of six or seven I was given a book for Christmas, The Way Things Work.

I do not think any gift had made as much of an impact on my life as this. Learning so many fundamentals of mechanics, physics, electricity, plumbing etc as a grade school kid was a foundation that helped me understand so much of what I needed as a small landlord that initially had to make all my own repairs.

These fundamentals also helped me succeed in my prior career in manufacturing.

How different my life would have been if instead I had gotten the Tonka dump truck I thought I wanted for Christmas.

Today, when deciding what gifts to give my grandchildren, I try to find gifts that may impact their lives as much as this book impacted mine.

In fact writing this post brought back such memories, that I just bought a used copy for myself.


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