All Forum Posts by: Jason M.

Did they just leave? Or were they late in rent and you didn't start the eviction process and are now left using the security deposit as rent?

You would have a very hard time convincing the IRS that your children are independent contractors. Be very careful. Look up the rules, they are very clear in this instance.

You can distribute what you want for each partner as it effects their partnership capital account. My recommendation of this is a true 50/50 partnership, and you both contributed half of everything, distribute that way also. You don't want a scenario where you have partnership capital account that is uneven and could cause liquidity or even just partner disagreements.

Hi Mildred, I'm a CPA and work for a local WPB tax firm. I know plenty of attorneys too. Feel free to message me if I can help or guide you.

Thanks James!

If you make money, you will have to pay taxes whether you distribute or not. Most Partnerships actually do a distribution just to cover the cash needed for the partners to pay the taxes on the partnership income. Also, have a CPA do your partnership taxes and have an attorney draw up your partnership agreement. Good luck.

I seem to find plenty of Broward and Miami-Dade Wholesaler's but rarely anyone for Palm Beach and Martin Counties. Any suggestions would be appreciated. Thank you.

Thanks Ed. That would be great.

I'm a CPA as well as an investor. Feel free to reach out to me.

Ed, who did you end up using?