Archives
The ABCs of 529 Plans
August 25, 2021
If you are saving for your children’s college expenses, you have likely heard of a 529 plan. This is a popular option that’s specifically designed for college savings. As with any investment program, there are pros and cons to 529… Read Now >>
How to Prioritize College Savings in Your Financial Plan
August 18, 2021
When you have children, saving for their college education is generally going to be a major priority. You want to help set them up for their future and provide them with the financial resources they need to get a quality… Read Now >>
The Pros and Cons of Vacation Rental Properties
August 10, 2021
As we’ve been discussing on the Illumination Wealth Blog, short-term vacation rental properties can be a great investment if managed properly. These rentals can take several different forms: • Property Solely Used as a Vacation Rental • Part-Time Vacation Rental… Read Now >>
Is a Vacation Rental Property a Worthwhile Investment?
August 4, 2021
We’ve been talking about the costs, benefits and planning options for short-term vacation rental properties. Ultimately, one big question remains: Is a vacation rental property worth your time, money and effort? This is a loaded question because it will depend… Read Now >>
Long-Term vs. Short-Term Vacation Rental—Which is Better?
July 28, 2021
With online platforms like Vrbo and AirBnB gaining so much popularity, short-term vacation rentals have become all the rage. Rental property owners used to seek out long-term tenants to rent their homes and condos for entire seasons. They preferred the… Read Now >>
Maximizing Your Vacation Rental Income
July 21, 2021
If you own a short-term vacation rental property, you’ll want to do everything you can to maximize your profitability. Here are 10 simple tips we recommend to help you improve your ROI and increase your vacation rental income: 1. Keep… Read Now >>
The Cost Structure of Having a Short-Term Rental
July 14, 2021
It is an enticing prospect to use an extra room in your house, dedicated guest space or a second home as a short-term vacation rental, especially if you own property in a desirable travel destination. You just have to remember… Read Now >>
Costs and Benefits of a Vacation Rental
July 7, 2021
Real estate is almost always a sound long-term investment. Within the larger field of real estate investing, vacation properties are a unique subset. What you choose to do with your vacation home may determine how lucrative an investment it can… Read Now >>
Do You Need California Residency or Business Tax Planning?
June 23, 2021
We’ve been focusing on California business owners lately on the Illumination Wealth Blog. There has been an uptick in interest for people to move their businesses—or at least themselves—out of California’s high-tax environment and relocate to a lower-tax state like… Read Now >>
When Does it Make Sense to Move Your Business Out of California?
June 16, 2021
Our last couple of blog articles have been geared toward business owners who are thinking about moving their business out of California. Today, I would like to present a couple relatable scenarios and how each situation may affect a decision… Read Now >>
