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Updated about 6 years ago on . Most recent reply
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Live in PA, flip in DE in own name?
I'm an experienced investor from PA, but just starting in DE. I've opened another LLC for Delware purchases on the advice of my CPA. However, I wasnt quick enough for a deal I've just encountered, so I wont have the docs they want in time to use the LLC. I cant get ahold of my accountant before my Sunday sign deadline to ask him.
This will be a small flip. What's the problem with buying and selling in DE in my own name, while living in PA? Is it just simpler for the accountant or is there more to it? I work in DE, so I know DE filling is a hassle.
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@Jeannette C aside from Delaware state taxes there really shouldn't be much, you'd have to file a return in DE as well as PA but that is about it, the LLC will have to do so anyway. However I am not an expert on DE tax law.