All Forum Posts by: Brittany Baird

Hi, this is the first year I’ve processed security deposits through apartment.com and I see that they’ve included security deposits on my 10-99k as income.  I set the payments up as “deposits” in apartments.com so I’m not sure why this happened. I’ve emailed their support to inquire about a corrected 10-99k.  I’m wondering if anyone else has noticed this or has advice on a solution. Thank you

Hi there, I have a single rooftop with three units fully rented in PA. I'm a NJ resident and have an LLC incorporated in the state of NJ. I made the LLC to use for my consulting business but accepted a w-2 position right after I made it so it's never been used. The LLC is in good standing. I have a mortgage on my rental in my personal name. I currently comingle my rental funds but use an advanced budgeting app so everything is tracked. I know I should open a new account. Should I/can I open a bank account in my LLC to collect rent - essential making the LLC the proper manager? Is there a good reason to do this even if the house stays in my personal name? I'm not sure if it matters that I created my LLC for one reason and would use it for another. Beyond this, I'm working on getting an umbrella policy set-up. Any advice welcome, thanks.