All Forum Posts by: Christina Yoon

My recommendation would be to file an extension.  And consult with your current CPA or another one until this issue has been appropriately addressed/and you fully understand.  Likely this conversation should happen after the deadline.  Extending will afford you the time to get your answers.

@Cameron Tournear

I recommend you find a professional who you feel comfortable with when speaking. (If you need face to face, then local.  If you prefer emails/phone/zoom,you can extend your geographic options).  Consider it a long term relationship and approach it this way.  Hope this helps.

Ryan did a great job explaining concepts and options.  And the operating words are " could/potential/might".

I know the investor within tries to set parameters/metrics/rules.  Yes helpful, but the devil is in the details.  
But there isn't a rule of thumb.

It's not a one size fits all, folks.

 Dibs on the name if you haven't trademarked it yet :)

In all seriousness though, it seems that you aren't confident about your current CPA's level of expertise in an area you need an advisor.  That's the most dangerous part of everything mentioned.

Great point about proactive tax planning.  Refunds mean you overpaid and gave an interest-free loan.  With proper planning, you can keep more cash on hand and make your dollars work for you.

Yes. It would follow an amortization schedule which is like your first example -  ($333 in month 1, $330 in month 2 as an example).  

I worked with a couple of clients that had used them and then I helped with their taxes.  I can say that this wasn't the right setup for this client's case from a tax perspective. Can't speak as to legal and other services they may be providing.

Hmm.  Your name as owner would be on public record.  If you are looking for anonymity, you may want to think options for taking title.  

Depends.  What is the cost to borrow VS. What cash position you have.  Will it appraise at higher value?  

From a seller's position, not much of a difference from an offer standpoint. But as a buyer, it affects you more.