Thinking about purchasing a condo (US, IL) and renting the second room to a friend. Do I need to claim the amount paid in rent to me as income? Seeing mixed suggestions online.

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Or just have a contract and not report it

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Nope, it’s considered pooling of resources for rent. But obviously you can’t deduct any business expenses then

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I mean you could technically just take cash from the friend. Issue is you can’t have a proper contract to protect yourself.

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Hi everyone!

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So what percentage of your income do you spend on housing?

Post Photo
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Can rotate throughout the year 😂

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I decalred FBP, and the amount got deducted from my salary.
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What if in case I have LTA bill which is exceeding x amount itself, do I need to raise reimbursement request every month th with same bill?

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Hey, I am looking for an Angel investor to invest in our idea. Can someone help me to connect with the person.

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Best cash back card to use in conjunction with CSR? Thinking about freedom unlimited (1.5%) but not sure if other cards are worth it. Don’t spend enough on groceries for the blue

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likefunny
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I’ve been working at a rather prestigious midsized firm in a big city for almost a year and a half now. I have been having a lot of trouble picking up work from senior partners. We are required to bill at least 150 hours per month to meet our requirement. My months are typically only 110-130 hours. It seems like the senior partners already have their “go to” associate for things. Does anyone have any suggestions on how i can increase my workload? I reach out for work pretty much weekly.

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I have a partner who routinely ignores emails or responds to them several weeks later. He has to approve every single document sent to the client or the court, which means you have a physically go to his office to ask him to review something. Half of the time you go to meet with him in person, he’s either on a call or otherwise busy. I find that this basically creates more work and makes meeting deadlines extremely difficult. Is this normal?

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