{"@context":"https:\/\/schema.org\/","@type":"CollectionPage","@id":"https:\/\/moneydoneright.com\/tag\/schema\/#CollectionPage","headline":"schema Tag","description":"","url":"https:\/\/moneydoneright.com\/tag\/schema\/","hasPart":[{"@type":"Article","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/form-w-2\/","headline":"What Is Form W-2 and What Do I Do With It?","url":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/form-w-2\/","datePublished":"2020-03-07","dateModified":"2021-09-29","mainEntityOfPage":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/form-w-2\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/What-Is-Form-W-2.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/What-Is-Form-W-2.jpg","height":460,"width":1900},"keywords":["schema"]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/","headline":"How to File a Late S Corporation Election","url":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/","datePublished":"2020-03-07","dateModified":"2022-03-04","mainEntityOfPage":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/late-s-corp-election.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/late-s-corp-election.jpg","height":460,"width":1900},"keywords":["schema"],"commentCount":"6","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/#Comment1","dateCreated":"2024-09-17 21:29:13","description":"I am starting a business that incorporated in 08\/2024, I'm confused if I should make election date for jan 2024 in form 2553, or do I need to submit a statement for reasonble cause for filling late. please help me","author":{"@type":"Person","name":"Tania","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/#Comment2","dateCreated":"2024-05-08 14:23:27","description":"What a huge help. Can't thank you enough. Your time and energy to help me take on this, what seemed like an insurmountable task, is so appreciated that I can't even describe how much.","author":{"@type":"Person","name":"Rory","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/#Comment3","dateCreated":"2022-12-07 14:07:46","description":"Thanks Logan! This takes the uncertainty away about doing this myself.\r\n\r\nQuestion... Can the form be faxed instead of mailing? What do you recommend?","author":{"@type":"Person","name":"Shannon","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/#Comment4","dateCreated":"2021-09-13 05:59:52","description":"Thanks for this helpful information. I see that you state what should be in the package, I am unsure if I have to wait for the determination letter to send the 1120-S form or, should I include it in the same package?","author":{"@type":"Person","name":"Mat","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/#Comment5","dateCreated":"2020-12-31 16:28:56","description":"You're welcome!","author":{"@type":"Person","name":"Logan Allec, CPA","url":"https:\/\/loganallec.com\/"}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/late-s-corp-election\/#Comment6","dateCreated":"2020-12-27 06:35:51","description":"THANK YOU!!!!","author":{"@type":"Person","name":"Marie","url":""}}]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/","headline":"GetUpside Review 2022: Is GetUpside Legit or a Scam? How Does It Work?","url":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/","datePublished":"2020-03-06","dateModified":"2022-03-29","mainEntityOfPage":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2018\/09\/GetUpside-Review.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2018\/09\/GetUpside-Review.jpg","height":630,"width":1200},"keywords":["youtube","schema"],"commentCount":"60","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment1","dateCreated":"2023-07-17 18:04:50","description":"Thing to do when you go to a place is screenshot and keep it on file where you can say look this is the offer that came to me I have a screenshot of it and you and clearly see it. \r\nSo if you're going to renege on your offers you need to let the public know.","author":{"@type":"Person","name":"Kevin Duzinski","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment2","dateCreated":"2023-06-27 10:30:13","description":"That's not true; I had a few transactions that said one price and gave another and then paid me on a much lower rate then what it said on the app","author":{"@type":"Person","name":"Tom Pearson","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment3","dateCreated":"2023-06-27 10:29:00","description":"I will never trust a review from here again. Upside never paid me after going to some scary gas stations with the promise of a discount. The app rarely even loads and spins. I will never trust this site again clearly a scam app.","author":{"@type":"Person","name":"Tom Pearson","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment4","dateCreated":"2023-06-14 12:10:45","description":"I cash out and they sent me a $185 already used Amazon card. Claim its my issue. I filed BBB claim. I suggest everyone else do the same and get their rating reduced from a B to F.","author":{"@type":"Person","name":"Bob","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment5","dateCreated":"2023-02-27 14:05:24","description":"They stole 320 dollars from me today , I tried to cash out then all of a sudden the app freezes make me log in again then all of sudden my account went from $329.00 to $9.30 .. I've been trying to resolve this all day with nothing back....","author":{"@type":"Person","name":"Robb Lewis","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment6","dateCreated":"2023-02-11 13:20:52","description":"Upside app is a scam. List my account and unable to help!","author":{"@type":"Person","name":"Dean","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment7","dateCreated":"2023-02-04 21:07:30","description":"I\u2019ve been scammed by either GetUpside or Circle K three times in the last week. The station shows a discount between 19 and 22 cents per gallon on all grades of gas. A couple days after the purchases, I get an email stating that there was no cash back at that station. After the first time, I took a pic of the app, showing the discount. They paid up on that purchase after I sent them the pic. Now it\u2019s happened two more times, so. I sent them pics of the latest episode. After they pay off on this, I\u2019m filing a complaint with the BBB and Federal Trade Commission for fraud.","author":{"@type":"Person","name":"Larry","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment8","dateCreated":"2022-10-18 10:54:12","description":"Currently I am arguing about a Sept 30 th transaction. They said there was no cashback at this station. I told them there was. Next they said cashback was only 1 cent instead of 10 cents. I told them the reason I went to Bucyrus ohio instead of Shelby ohio was Bucyrus BP was 10 cents and Shelby was 1 cent. Now they are saying that it wasn't for that grade of gas I got regular. Don't download the app.","author":{"@type":"Person","name":"Diana Riley","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment9","dateCreated":"2022-10-13 16:21:59","description":"they lie when they tell you to refer somebody they pay you one cents for every gallon that they buy all they really do is takeoff two cents from your gas to make it look like you\u2019re getting one sent from the person you referred and so many more scams","author":{"@type":"Person","name":"Matt","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/apps-and-sites\/getupside-review\/#Comment10","dateCreated":"2022-10-13 16:19:52","description":"This company please games with the money if you use them a lot they start denying offers saying they don\u2019t have the receipts or if you use it too much they completely low and the percentage I use it a lot my wife hardly ever use it it","author":{"@type":"Person","name":"Matt","url":""}}]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/fast-money\/side-hustles\/selling-tradelines\/","headline":"Selling Tradelines: How Much I Make and How You Can Get Started","url":"https:\/\/moneydoneright.com\/fast-money\/side-hustles\/selling-tradelines\/","datePublished":"2020-03-05","dateModified":"2021-10-08","mainEntityOfPage":"https:\/\/moneydoneright.com\/fast-money\/side-hustles\/selling-tradelines\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/selling-tradelines.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/selling-tradelines.jpg","height":460,"width":1900},"keywords":["schema"],"commentCount":"3","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/fast-money\/side-hustles\/selling-tradelines\/#Comment1","dateCreated":"2023-11-23 19:31:37","description":"This is absolutely not true. There is a fine line between fraud, and something that isn't in the bank's best financial interests. These are facts.","author":{"@type":"Person","name":"Ruby","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/fast-money\/side-hustles\/selling-tradelines\/#Comment2","dateCreated":"2021-07-09 08:21:04","description":"Be careful, the fact of the matter is that the use of tradlines are considered by most lenders to be fraudulent","author":{"@type":"Person","name":"Ace","url":"http:\/\/N\/A"}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/fast-money\/side-hustles\/selling-tradelines\/#Comment3","dateCreated":"2020-12-15 19:14:24","description":"Hey very nice site!! Man .. Excellent .. Amazing .. I will bookmark your web site and take the feeds also\u2026I'm happy to find so many useful information here in the post, we need work out more strategies in this regard, thanks for sharing. . . . . .","author":{"@type":"Person","name":"Tuyet Konecny","url":""}}]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/best-online-banks\/","headline":"Best Online Banks of 2025","url":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/best-online-banks\/","datePublished":"2020-03-05","dateModified":"2025-03-13","mainEntityOfPage":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/best-online-banks\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/stephanie-colestock\/#Person","name":"Stephanie Colestock","url":"https:\/\/moneydoneright.com\/author\/stephanie-colestock\/","identifier":32,"description":"Stephanie Colestock is a personal finance expert and writer who enjoys teaching people how to be financially independent and confident about their money choices, regardless of obstacles in their path (such as the crippling student loan debt she once held). Stephanie graduated from Baylor University, and is currently working toward her CFP certification. Her work can be seen on sites such as Forbes, Dough Roller, and Johnny Jet, among many others.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/442d6c6189f0b39f0b5a2095037d8c576284f3705ffef7d6098f21fa4289967e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/442d6c6189f0b39f0b5a2095037d8c576284f3705ffef7d6098f21fa4289967e?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/best-online-banks-1.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/best-online-banks-1.jpg","height":460,"width":1900},"keywords":["schema"]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/personal-finance\/estate-planning\/trust-and-will-review\/","headline":"Trust & Will Review 2025: Honest Review by an Attorney","url":"https:\/\/moneydoneright.com\/personal-finance\/estate-planning\/trust-and-will-review\/","datePublished":"2020-03-05","dateModified":"2025-01-25","mainEntityOfPage":"https:\/\/moneydoneright.com\/personal-finance\/estate-planning\/trust-and-will-review\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/valerie-keene\/#Person","name":"Valerie Keene, J.D.","url":"https:\/\/moneydoneright.com\/author\/valerie-keene\/","identifier":65,"description":"Valerie graduated magna cum laude from the University of Arkansas School of Law where she also participated in Moot Court and the Arkansas Law Review. She practices law in Arkansas, focusing primarily on estate planning and elder law. She has prepared countless estate planning documents and has participated in a number of guardianship cases since she was admitted to the bar. She is a regular contributor to Nolo.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/927f13cc2c278eb870c83580ec0c57c289e3c11ada3f1dfbc36721cf0f481452?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/927f13cc2c278eb870c83580ec0c57c289e3c11ada3f1dfbc36721cf0f481452?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/trust-and-will-review.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/trust-and-will-review.jpg","height":460,"width":1900},"keywords":["schema"],"commentCount":"1","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/personal-finance\/estate-planning\/trust-and-will-review\/#Comment1","dateCreated":"2023-11-07 13:53:16","description":"This is a question rather than a review comment. Is the final product something I can change as needed i.e. a Microsoft Word document or a PDF document which is only able to be changed or updated by the \"Trust and Will\" company.\nThanks for addressing this critical point that was not clear in the review.","author":{"@type":"Person","name":"Jim Bogart","url":""}}]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/","headline":"Below Market Rent: Tax Consequences of Renting Below Fair Market Value","url":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/","datePublished":"2020-03-04","dateModified":"2022-06-28","mainEntityOfPage":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2019\/05\/Below-Market-Rent.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2019\/05\/Below-Market-Rent.jpg","height":430,"width":825},"keywords":["schema"],"commentCount":"6","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/#Comment1","dateCreated":"2023-10-08 05:34:55","description":"So question for you on this. My condo mortgage is $1140 a month HOA $965. Electric is $115 that only utilities everything else is inlude in HOA dues. Cable is $85. My brother pays $400 a month rent, but he pays electric and cable bills as well. He does and groceries shopping does 60% cleaning and cooking. Per hud fair market for Minneapolis area is $1074. Can I use this for tax deduction?","author":{"@type":"Person","name":"Peter Jorgenson","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/#Comment2","dateCreated":"2023-04-03 06:05:20","description":"Not sure but this seems to suggest deductions outside of schedule A would be allowed. https:\/\/www.irs.gov\/faqs\/sale-or-trade-of-business-depreciation-rentals\/personal-use-of-business-property-condo-timeshare-etc\/personal-use-of-business-property-condo-timeshare-etc-1","author":{"@type":"Person","name":"Eric","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/#Comment3","dateCreated":"2021-10-13 13:33:47","description":"Hi Brian. In this case, if you're renting it out to someone else for four years, it wouldn't be your primary residence for two out of the last five years, so you wouldn't qualify for the Section 121 exclusion<\/strong><\/a>.","author":{"@type":"Person","name":"Logan Allec, CPA","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/#Comment4","dateCreated":"2021-09-21 14:10:46","description":"Great summary. Easy to understand explanation. Question, if you do rent the residence out at below market for say 4 years, can you then sell it and still be eligible for the $500K (MFJ) capital gains exclusion on a primary residence. Or are you still subject to the 2 out of 5 year rule?","author":{"@type":"Person","name":"Brian","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/#Comment5","dateCreated":"2019-05-20 12:50:17","description":"Hi Stanley. Those are great questions.\n\nAs you know, in the situation you described, you would be renting your townhome at below market rent. \n\nYou would have to report your rents collected for the year on on Schedule 1, Line 21, where it will flow to page 2 of your 1040 and be taxed at your ordinary income tax rates.\n\nIn terms of deductions, you would not be able to deduct your HOA dues, but you may be able to deduct your mortgage interest (which is only a portion of your monthly payment) and property taxes on Schedule A insofar as these amounts are not limited, respectively, by the $1,000,000 \/ $750,000 mortgage interest limitation and \/ or the $10,000 limitation on the deduction for state, local, and property taxes.\n\nSo yes, it appears that you will have to pay taxes on the $1300 that you're charging as rent when in fact, you're not profiting (or you're at least not cash flow positive).\n\nHowever, as noted in the article, there may be some strategies you can apply to your specific situation that can give you a better tax answer with your below market rental. Since these strategies may or may not be applicable to your situation, it is recommended that you reach out to a qualified tax professional to discuss your options.\n\nYou can certainly convert your townhome to a market value rental property whenever you like. When this happens, you will report your rental income and expenses on Schedule E. However, you will not be able to recoup the deductions you previously incurred when the property was a below market rental.","author":{"@type":"Person","name":"Logan Allec","url":"https:\/\/moneydoneright.com"}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/personal-taxes\/below-market-rent\/#Comment6","dateCreated":"2019-05-19 16:54:05","description":"Thanks for your article. It was exactly my question, and the answer seems clear. However, sometimes we want to be able to serve people in our church family that doesn't make financial sense. Perhaps you can shed a bit more light on a specific situation. My cost to own my townhome is a mortgage of about $1300 and HOA about $400. The market value is about $2000, which our neighbor pays for the comparable unit. However, we'd like to rent it out to a church family for $1300. The question is, how would taxes work, since I'm actually taking a loss? Will I have to pay taxes on the $1300 that I'm renting out for when in fact, I'd would NOT be profiting? \n\nFrom another standpoint, can I rent it out as a below market value for 2 years and then after they move out, to bring it back to at market value rental property?","author":{"@type":"Person","name":"Stanley","url":""}}]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/self-employment-tax\/","headline":"The Self-Employment Tax, Explained by a Self-Employed CPA","url":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/self-employment-tax\/","datePublished":"2020-03-04","dateModified":"2021-10-01","mainEntityOfPage":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/self-employment-tax\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2019\/02\/Self-Employment-Tax.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2019\/02\/Self-Employment-Tax.png","height":430,"width":825},"keywords":["schema"],"commentCount":"2","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/self-employment-tax\/#Comment1","dateCreated":"2023-08-09 11:47:34","description":"You're welcome, Maggie!","author":{"@type":"Person","name":"Logan Allec, CPA","url":"https:\/\/loganallec.com\/"}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/self-employment-tax\/#Comment2","dateCreated":"2023-08-02 18:19:02","description":"Easy to read. Thank you","author":{"@type":"Person","name":"Maggie","url":""}}]},{"@type":"Article","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/","headline":"The $800 California LLC Tax and California LLC Fee: A CPA Answers All!","url":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/","datePublished":"2020-03-04","dateModified":"2021-10-07","mainEntityOfPage":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"description":"Logan is a practicing CPA and founder of Choice Tax Relief<\/b><\/a> and of course Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.<\/b><\/a>","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2018\/05\/California-LLC-Tax.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2018\/05\/California-LLC-Tax.png","height":430,"width":825},"keywords":["schema"],"commentCount":"5","comment":[{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/#Comment1","dateCreated":"2021-07-14 15:42:13","description":"Sounds like it's all California-sourced income to me. $800 LLC tax + LLC fee based on gross receipts.","author":{"@type":"Person","name":"Logan Allec, CPA","url":"https:\/\/loganallec.com\/"}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/#Comment2","dateCreated":"2021-07-11 20:00:45","description":"How would fees (if any) be assessed if a company is a web only site and the developer lives in California?","author":{"@type":"Person","name":"David","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/#Comment3","dateCreated":"2019-07-04 16:35:46","description":"Hello. My husband is a truck driver, he does not own a truck - rather his employer hires him for his driving skills. Should my husband form an LLC or corporation? Does he still owe franchise tax although he spends his time on the road between CA and IL? Thank you.","author":{"@type":"Person","name":"Antoaneta Angelova","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/#Comment4","dateCreated":"2019-04-11 12:42:23","description":"I have a similar situation to Evan above. Filed with SOS on April 19 2018. Thanks!","author":{"@type":"Person","name":"Josh","url":""}},{"@type":"Comment","@id":"https:\/\/moneydoneright.com\/taxes\/business-taxes\/california-llc-tax-fee\/#Comment5","dateCreated":"2019-04-10 18:30:06","description":"Logan, I have a few questions and are interested if you offer any services. My partner and I started an LLC in August of 2018 and are trying to figure out our tax situation for this year. We are trying to figure out what forms we need to file (pay the $800 and also file some separate tax return? Or just pay the $800). Anyways, would be greatly appreciated if you can get back to me ASAP. Great article.","author":{"@type":"Person","name":"Evan Meyers","url":""}}]}]}