Is now a good time to sell some of my investment properties?

This is a more complex question than it may seem at first. From a simple perspective, you want to analyze what the true expected future rate of return is on the property including all costs such as maintenance, future upgrades, vacancy, taxes and more. Then compare that true rate of return with the other options you have for the money, accounting for differences in risk.

Also Covered:

High Valuations = Lower Expected Future Returns
Impact of taxes and transaction costs
Your desired life trumps the money

Investing, Tax Planning, Business AdvisingJoshua Escalante Troesh, CFPAugust 15, 2021Real Estate Investing, rental properties, Small Business, Business Owners

How should I manage my own investments along with my simplified employee pension (SEP)?

When investing, you will want to manage your investments in both your SEP and Roth IRA as one whole portfolio and not as separate entities. This means making sure you are not invested too heavily in a single asset . . . .

Business AdvisingJoshua Escalante Troesh, CFPJuly 15, 2021Business Owners

Coronavirus: How Does Payroll Protection Program Loan Forgiveness Work

ALSO COVERED:

May be forgiven vs. Will be forgiven
Is the interest forgivable?
What is the interest rate?

Business Advising, Life PlanningJoshua Escalante Troesh, CFPApril 8, 2020Young Families, Corona Virus, Covid 19, Debt Relief, Small Business, Business Owners, Self Employment, Independent Contractor, Government Aid, CARES Act, Payroll Protection Program

Coronavirus: Help for Small Business Owners & Self Employed whose businesses are impacted

The federal government has created the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Eligible business and individuals can borrow 2.5 x prior average payroll (up to $10 million) with no loan payments due for six months. If you maintain your workforce, the SBA will forgive 8 weeks of payroll plus certain other expenses

ALSO COVERED:

Eligibility and amounts available
How to get Loan Forgiveness
Applying for the loan and an advance

Business Advising, Life PlanningJoshua Escalante Troesh, CFPApril 1, 2020Young Families, Corona Virus, Covid 19, Debt Relief, Small Business, Business Owners, Self Employment, Independent Contractor, Government Aid, CARES Act, Payroll Protection Program

What should my fiancé and I do with the extra $7,000 we make each month?

Before worrying about strategies for saving and investing start by having a discussion about the goals you and your fiancé have for your life together; such as buying a home, having children, or even taking vacations. Then focus on how you can align your finances toward those goals. This discussion on your goals is the most important financial discussion you can have as it is the only one which directly connects to the life you want to build.

Also Covered:

INVEST MORE AGGRESSIVELY
OPEN A HEALTH SAVINGS ACCOUNT (HSA)
SAVE UP FOR A DUPLEX/TRIPLEX
SAVE UP TO START A BUSINESS
BUY A HOUSE

Investing, Life PlanningJoshua Escalante Troesh, CFPFebruary 11, 2020investment property, Investment portfolio, Starting Out, Building Wealth, Financial Foundation, HSA, Health Savings Account, Small Business, Business Owners, Marriage, Real Estate Investing

What Does California's AB5 Mean For My Business?

Business AdvisingJoshua Escalante Troesh, CFPJanuary 23, 2020Social Security, 401(k), Business Owners, Small Business, AB5, Independent Contractor

Can a Limited Liability Company (LLC) issue stock?

It is possible for an LLC to issue something similar to stock, called membership units. Just like stocks, membership units divide up the ownership of the company amongst the owners of the units, allow the owners to vote for the directors of the company, and give them rights to share . . . .

Business AdvisingJoshua Escalante Troesh, CFPOctober 30, 2019Entrepreneurship, Small Business, Limited Liability Company (LLC), Business Owners, Business Investors

What are Self-Employed options to save for retirement without a 401(k)?

Retirement Planning, Business AdvisingJoshua Escalante Troesh, CFPOctober 8, 2019Building Wealth, Business Owners, Retirement Planning, HSA, Health Savings Account, Solo 401(k), 401(k)

How does one weigh the trade offs between bootstrapping a small business and seeking Venture Capital?

While the concerns over the slower bootstrap method are legitimate and should be considered, I still believe bootstrapping for as long as possible is the way to go for the vast majority of enterprises because of the significant potential downsides of VC and Angel funding. Ultimately the question you want to ask is if it is possible to build your business through bootstrapping considering the concerns you identified. If it is, then I recommend going with bootstrapping as long as you can. Here are potential challenges with getting funding:

Business AdvisingJoshua Escalante Troesh, CFPSeptember 4, 2019Starting Out, Financial Foundation, Business Owners, Career Development, Career Advice, Career Planning, Entrepreneurship, Building Wealth

Can an independent contractor deduct monthly health insurance premiums?

Once you begin earning income as a self-employed individual, you effectively become a business, and businesses are eligible to deduct health insurance premiums for their employees (you) as an above . . . .

Tax PlanningJoshua Escalante Troesh, CFPAugust 14, 2019Business Owners, Independent Contractor, Income Tax, Self Employment

Should I pay down student loan debt or start a business?

As a professor of entrepreneurship, I'm in favor of you starting the business, especially since you have the desire to be able to work from home as a mother. Your financial plan should be developed to support your life goals . . . .

Life Planning, Debt ManagementJoshua Escalante Troesh, CFPJanuary 31, 2019Business Owners, Student Loans, Entrepreneurship, Starting Out, Financial Foundation, Debt Management, Debt payoff

Should I take a lower salary working for my family or pursue a higher paying job for a good company?

From your question, it seems like you truly think working for the bank is the right choice, and I agree. You are not the only person who is going through a situation like this, although it might feel that way. I am also a professor of entrepreneurship and at least once a year I have a student . . . .

Life PlanningJoshua Escalante Troesh, CFPDecember 6, 2018Starting Out, Financial Foundation, Business Owners, Career Development, Career Advice, Career Planning

How can we minimize capital gains taxes when selling rental property?

It is possible to avoid paying taxes using a 1031 exchange option. Your thinking is correct, you would need to buy the new property and keep it as a rental for a period of time. But you must be careful. . . .

Tax PlanningJoshua Escalante Troesh, CFPOctober 25, 20181031 Exchange, Managing Wealth, Real Estate Investing, Buying A Home, Business Owners, Capital Gains Taxes

Are there any sure proof ways to safeguard my nest egg and rental business?

There are no sure proof ways to safeguard a nest egg, but there are things you can do which will improve your protections and increase the safeguards. Below are some general recommendations which can help you see what tools are available to you to protect your wealth based on the. . . .

Retirement Planning, Life PlanningJoshua Escalante Troesh, CFPSeptember 27, 2018Managing Wealth, Retirement & Legacy, Retirement Planning, Real Estate Investing, Business Owners