When should I be paying state rental taxes?
Hello good people of BP,
I am having a difficult time finding info on when I am supposed to be paying taxes on my rental income in Missouri. Both properties are owned by a single member LLC and I was under the impression this is pass through income that you pay tax on every year when you file your state return. The only info I could find is regarding employers from the State of Missouri Employer's Tax Guide. Thank you for the help!
Most Popular Reply
Single member LLCs are almost always pass-through entities.
Hiring a CPA with real estate experience to do your taxes will let you sleep better at night, might help you find additional deductions to reduce your taxes, and save you a lot of brain damage. I highly recommend it.