Hello,
Reading the forums have been very insightful and wanted to seek some help.
1) I currently have a LLC-S corp for my regular business. I am in the process of purchasing our first commercial property (retail/office) and want to setup proper structure for it. WY master LLC with state specific child LLC or some other structure?
2) My spouse currently works about 1000 hrs in our business and gets a W2 and is considering going for REPS for next year by reducing the number of hours working in the regular business. How do we document the hours to pass the IRS muster and what activities can be counted towards the REPS hours.
3) Our regular business generates good income and we hope to reduce the tax burden through REPS, Cost Segregation etc.
4) We plan to have multiple commercial properties over the years and potentially OOS properties as well. What kind of grouping issues should we keep in mind to avoid potential pitfalls.
5) What is a good process to maintain books for our real estate properties along with our regular business?
6) I am in Pacific NW and a good referral for a REI CPA, Attorney, bookkeeper are very much appreciated. I will be moving on from my current CPA.
Appreciate your feedack.
Ik
