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Updated about 5 years ago on . Most recent reply

Dave Pricken's profile image
Dave Pricken's profile image
Dave Pricken
  • Wholesaler
  • from Wayne, New Jersey
  • Member since Jan 20, 2010
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Dave Pricken's profile image
Dave Pricken's profile image
Dave Pricken
  • Wholesaler
  • from Wayne, New Jersey
  • Member since Jan 20, 2010
Connect
Dave Pricken
  • Wholesaler
  • Wayne, NJ
3
Votes |
24
Posts
Tax, SDIRAs & Cost Segregation

New Jersey Resident Doing Wholesale Deals in NY

Dave Pricken
  • Wholesaler
  • Wayne, NJ
Posted

Hi, I have a wholesale deal closing in NY and I live in NJ. I created a NY LLC for my wholesale deals, but want to get the money back to an LLC that I have in NJ. Should I take the funds/profits from the wholesale deal to my NJ LLC and pay the out of state taxes, or should I take the funds/profits into my NY LLC and then have that LLC pay my NJ LLC?

Sorry, I'm kind of new at this. 

Thanks.          Dave

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