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Updated over 5 years ago on . Most recent reply

Jenny Tai's profile image
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Jenny Tai
  • Member since Oct 18, 2019
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Jenny Tai's profile image
Jenny Tai's profile image
Jenny Tai
  • Member since Oct 18, 2019
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Jenny Tai
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4
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Starting Out

Property under LLC - Tax and Banking Implications

Jenny Tai
Posted

I'm considering purchase a property using a LLC.

I'm hoping to get more clarification on the following questions:

1. How would the income and expenses from LLC be taxed for each member of the LLC?

2. Are there special requirements to set up a bank count and have the LLC as the owner? What are the best way for each member to contribute capital to the LLC?

3. Do we need a different LLC if the properties are located in different states?

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