All Forum Posts by: Aaron Marx

Thats where we disagree sir, the irs has those rules so they can extort as much money as possible from the average man. Screwing Americans since 1913 or 1861, take your pick. Thanks again.

Lol.. No i get it, Im not established there so until I am it is not considered a write off, unless I end up buying something during my trip then it can be, most likely over many years. Thank you for your time, I truly do appreciate it. I can take a buisness trip to Iowa and it would be.. Lol Not interested

I do have the means to buy something out there. I did go 1500 miles from my residence to buy my duplex. So going out to Hawaii to look at something is not out of the ordinary. I was just under the impression that it could be written off if at least 50% of the time was done on travel or conducting buisness. Is not correct, as in not the rules set by the irs. If not please let me know as Im not hear to argue just simply learn. As I understand it, as long as 50% is travel to or from, or pre planned buisness meetings, confrences, ect. Like I said I could be wrong and would love to be set straight if so. Thanks again.

Thank you that is exacly what I got from the research I have done on the matter. 

My wife and I have a mmllc for a duplex in iowa. Would my planned buisness trip qualify for tax reasons. We are trying to go to hawaii this coming May for a ten day trip. Would my plan qualify a buisness expence reguarding air fare, lodging, car rental, and dood on the days buisness is conducted. We are going to two different islands. One day of flying in, met with a realtor and look at some houses or raw land, for one day. Personal time next two days. Fly to second island one day, Next day meet with a realtor rinse and repeat, two days of relaxing then fly home. 10 days total, 3 days of flying 2 days of realtor meetings. Would that qualify as a buisness travel for a buy and hold llc. I would set up meeting with email correspondence before I book the flights. Thank you any input would be greatly appreciated.

My wife and I just bought a duplex in the state of Iowa, we set up a mmllc to put on title of said property. I called a friend who is a cpa, he told me I would have to pay myself, which would mean extra taxes.( The property only brings in 1450 a month with a 950 mortgage.) From my research I have personally done the llc is just an extension of my personal income. And I dont have to " pay myself" as it is a pass through entity. He said he didnt know much about the llc setup, and I tend to believe him. As I believe this info is untrue in my case. Am I wrong in my assumptions. Am I not understanding something. Any insight would be greatly appreciated.

Thank you sir, the best to you to in your endeavors. I believe this website can help us all out, greatly.

I was wondering if anyone has had any luck with aquirring wholesale houses without being a real estate agent. I am looking in hopes of fix and flip, and holding properties. Thank you for your time.

I am in the process in closing on a oos duplex in iowa. I went 1500 miles from home because of tenant laws and price in Ca. I had a rental property in Ca a couple of years ago that I bought through a tax sale. Then I had to wait 3 months to get access to the property. After that me and my partner rehabed it and sold it, when we were both ready to more from our primary residences. We had great tenants, but I got a taste of the lack of power a homeowner had in Ca, when it came to tenant law. This post is just an introduction to myself and my situation. Im going to also post a question I recently posted in another category to maybe get some more feedback. Thank you for your time.

I just bought a duplex in Iowa that will close in the next coming weeks. Do I have to register in California as a foreign LLC if that's where I reside I will not conduct any business in California yet I will be getting paid so I don't really know the legality of it. Thank you any information would be greatly appreciated.

Updated 5 minutes ago

I was also wondering if my buisness bank account should be in iowa wher my llc is registared or california. Would that effect if id have to registar in Ca as a foreign LLC Thanks again.

I just bought a duplex in Iowa that will close in the next coming weeks. Do I have to register in California as a foreign LLC if that's where I reside I will not conduct any business in California yet I will be getting paid so I don't really know the legality of it. Thank you any information would be greatly appreciated.