All Forum Posts by: John Duston

@Sean Rogers

He needs a professional to help on that. There'd be a few allocations going on and questions about deductablitt

@Doug Henderson

They should sent you a 1098

Hi Rick,

What part of LA are you in?

Sounds like a sticky situation that needs a paid lawyer, not free advice.

It's going to vary based on your personal marginal tax rate.

There'd also be a step up  in basis with a sale and gain exclusion under 121. Then with owner financing it have the same effect. Whats the real advantage to a trust in this scenario? 

Hi Jessica,

Congrats on purchasing a home and best of luck on the repairs.

Ideally, the costs that he has been occurring can be marked as contributions to his capital account and expensed my the LLC or expensed on his personal taxes as a supplemental business expense.

Sounds like the record keeping is going to be messy and I can't tell you the best way to report this without getting deeper into the books/records to figure out whats going on.

If you're open to remote accountants we can hop an a phone call so I can get an understanding of your situation and if we'd be a good fit.

Hi Estefania,

I and my partner are located in Santa Barbara and are talking to a potential investor out there.

If you're open to remote accountants we can hop an a phone call so I can get an understanding of your situation and if we'd be a good fit.

Are you an investor, agent, starting out?

What are you looking to get out of your accountant?

Yes. Use the SS-4. It's real straight forward.

Do you have an accountant for this upcoming tax season?