All Forum Posts by: Jessica Campa

 thank you!

Thank you! 

Hello BP, I am in search for a CPA in San Antonio. I opened an LLC with my dad and brother in 2018. We purchased a home in April 2019. We have been slowly working on the home but my dad has been paying his workers and materials with his self employed business account which is a home repairs business.

I just want to know what the best way is to report this is?

This post had the answers i needed! THANK YOU!

@Rick Pozos Thanks! I will look into it. I know her son was living there for awhile and they used it as a storage again once he moved out. 

Hey everyone! I am new to Real Estate Investing and BP. I recently formed a LLC with my brother and my dad (who has been in the game for years) and we will be closing on our first home this week! I have many questions but two that I would really like info on are:

1) The previous owner turned their storage into a 1 bedroom 1 bath, we plan to rent it out also, is there anything we must do prior? 

2) I have read many of the posts on BP but i am still a bit confused on taxes. When i applied for the EIN online, it classified us as a partnership since we are a multi-member LLC. We do plan to hold the homes we purchase. Would you recommend to file to the form 2553 to elect to S corp status?

Thanks!