Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply

User Stats

131
Posts
32
Votes
Jaago Viitkin
  • Union City, NJ
32
Votes |
131
Posts

Bookkeeping / CPA question

Jaago Viitkin
  • Union City, NJ
Posted

I opened an LLC in New Jersey.

This LLC rented a multi-family property and is subleasing the house to regular tenants.

The LLC needs to make renovations in the house and my question is how to work with sales tax??

For example I bought a stove for 400 dollars and paid 7% sales tax. 

1) Do I have a right to claim it back? Since it is investment to the property and business?

2) When I am renting the apartment do I have to collect sales tax? And what is the reporting period if I have to?

I am also looking for an affordable book keeper or CPA for starting LLC, somebody who can help me with these questions?

Any help is highly appreciated?

Thank you

Loading replies...