if I file an extension under the Safe Harbor rule because last year we got a refund but this year we will likely owe taxes, am I going to owe interest or penalties? I have not submitted all of the paperwork yet from 2025 and I’m still trying to figure out what we might owe i’m trying to find more receipts and deduction opportunities. Do I still have plenty of time or do I need to hurry?

Link to register! https://www.eventbrite.com/e/real-estate-power-hour-workshop-tickets-1988632118198

Link: https://www.skool.com/taxes/classroom/ec6893ee?md=f24cc96e34c94f8982d3243d4808f685 Here are the key takeaways from this call: Tenant Screening - Recommended platforms: SmartMove (by TransUnion) and Turbo Tenant for long-term rentals; Zillow's embedded background check is good because tenants can reuse one paid check across multiple properties - Always screen tenants before placing them — skipping it leads to problems with payment, property condition, and difficult removals Long-Term Rental Challenges - One participant's tenant (placed without screening) was paying late, maintaining the property poorly, and becoming a headache; the advice was to have a direct in-person conversation, reset expectations, and give a deadline before pursuing formal notice - Kansas law requires 30 days notice to vacate; always check your state's statute - A separate story highlighted a squatter situation where a tenant stopped paying rent for over a year — the takeaway was to set up automatic rent deposits and act quickly (visit property, hire a local eviction attorney) if payments stop 1031 Exchange Discussion - Proper 1031: sell a property, roll all proceeds into a replacement property within 45 days (identify 3 options) and close within 180 days — defers all capital gains and resets depreciation - Lazy 1031: sell, keep the cash, buy a new property later in the same year and use cost segregation to offset the gain — less efficient because it "uses up" your depreciation against the sale rather than offsetting other income - Consensus: the proper 1031 is almost always better Mortgage & Payoff Strategy - Loans at ~4.25% are worth keeping — the money can likely earn more elsewhere (S&P 500 averages 8–10%, private notes at 8–10%, HYSAs near 4%) - Loans at 6.7–7%+ are worth paying off or refinancing Property Improvements (for better tenants & higher rents)

We’re likely going to inherit a partial interest in a piece of land in the next few months. It’s currently shared on the deed with a relative, and we’ll stay co-owners for now. I want to make sure this doesn’t turn into a financial headache. The relative has paid the property taxes for years and previously allowed logging, which only brought in about $10k and covered a few years of taxes—not a great return. The land is currently assessed pretty low because there’s no official road access. I’d need to look into getting an easement, but I don’t know how that might affect the assessed value or trigger a reassessment. I’ve never owned raw land before, so I’m not even sure what questions I should be asking. Are there smart tax strategies, cost-saving moves, or common mistakes I should be aware of? Long term, I’d love to develop it once we can buy out the relative, but for now I just want to manage it wisely. Any insights from those with experience would be really appreciated.

Isn’t it crazy how you can go to school for 18 years (22 years if you’re a doctor) and you never learn how to efficiently transfer money from your LLC to your personal bank account?