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All Forum Posts by: Erik Eisenman

Erik Eisenman has started 0 posts and replied 3 times.

Post: Bookkeeper, or accountant or CPA...what do I need?

Erik EisenmanPosted
  • Real Estate Professional
  • San Diego, CA
  • Posts 3
  • Votes 9
Hi Joe, You can do most of it yourself, but if you want someone to keep an eye on things (and make sure you don't get in to trouble), I would give Mike Fitzsimmons a call. He's right in Mission Valley and pretty reasonable. He'll even set up Quikbooks for you, so you know it's done right. Let me know if there's anything I can do to help...

Post: Hi, This is Joe from San Diego!

Erik EisenmanPosted
  • Real Estate Professional
  • San Diego, CA
  • Posts 3
  • Votes 9
Welcome Joe

Post: FAQ Forum Question: Do I Need an LLC?

Erik EisenmanPosted
  • Real Estate Professional
  • San Diego, CA
  • Posts 3
  • Votes 9

I just had this conversation with my CPA...for those of us in California that are interested in flipping, it was recommended to set up an S-corp.  The issue is California has a separate tax on the gross receipts of LLCs once their revenue surpasses $1M.  Here in San Diego, that threshold can be surpassed in 1 or 2 deals depending on what you are involved in.  I would always get advice that is specific to your situation from a CPA especiallly in tax-happy California.