Rental property owners can't get PPP money in the second round, and faking self-employment income to qualify costs more in taxes than you'd gain. Instead, Mark Kohler points landlords to rental assistance programs that help tenants pay back rent, which gets you paid without the tax hit.
Chapters
Does a rental property owner get the second round of ppp? That's the payroll protection program. Covid relief. Go buy and hold guru. The answer is no. A rental property owner does not get the ppp. Now some people have said, well pay yourself a management fee, go create some self employment income and then you can calculate the PPP off that. Yeah, but you just created self employment tax and by the time you jump through all those hoops, the PPP ain't worth it. I mean it. Don't do it. I've ran the math every which way. Doesn't work. But here. What? Here's what you rental property owners can get. You can get the rental assistance that they're offering tenants that are behind on their rent. Now, I've had clients as landlords literally get the paperwork, go over to the rental property and have the tenant fill it out. 10 seconds left. Submit it and help the tenant get the reimbursement so you can get paid back rent. So look at the landlord rental assistance program. Google it. Boom. 60 seconds. All right.
