Need advice from a CPA

[Robert Capozzoli]

Hi everyone! I'm looking for a CPA to help me with starting an LLC . Of course I'm looking for someone who is well-versed in real estate . I live and Basking Ridge New Jersey. any advice is much appreciated.

Best,

Rob

[Jessica Zolotorofe]

Thanks, @Odie Ayaga! Robert, the costs are minimal as far as filing. $125 fee to the state initially and then there's a $50 fee for filing annual statements. You have to have a registered agent, but your lawyer or accountant may be willing to act as agent free of charge. To have a lawyer form the LLC, prepare the articles of formation, etc., obtain an EIN for you, and prepare an operating agreement for a single member LLC should cost you around $500-750. (You'll need all of those in order to open a bank account for the company). Because it will just be you as the sole member, it is considered a disregarded entity by the IRS and you will file taxes through your personal return, so no additional cost there. I am a big LLC advocate for real estate investors, so I do think you have the right idea. Hope that helps! Feel free to email or message me if you have any other questions.