All Forum Posts by: Justin F.

Rocklander

sorry I see the date now..originally i read this on my phone and didn't see the event details

A/c doesn't get bonus ..basically if it has to be depreciated over 27.5 years which an ac does ..then no bonus .. Bldg is mid month ..everything else is half year and mid quarter .. Half year and mid quarter are determined based on total assets put into service that year ..basically if more than 40% of your assets are put into service in the 4th quarter than you use mid quarter ..otherwise use half year Hope that helps

I'm sorry .. What's the date?

Westchester ..nice ..right over the bridge from you ..good to see more locals

Welcome man.. I'm not too far from you ..there are a few meetup groups in nj..some are catered just to wholesalers..Gluck I'll probably see you around

The tax benefit you will receive is a lower net income ..( since you will probably have an extra expense for annual llc fees ) :-).. But like it was said above ..all of your income goes on a k-1 .. Then it gets reported on your personal return . So there's no tax benefit ..if you are referring to depreciation you get that either way.. Also in terms of transferring ..who is making your llc? If it's a lawyer have them do it when they make it Otherwise ..from my understanding ..different states use different methods ..I believe we did a quitclaim ..but let the lawyer handle it Good luck

From my understanding ...buy and hold always use an llc over scorp..usually because of financing purposes ..if you ever need to transfer title to your personal name the scorp will consider it a sale and you will owe taxes where as an llc will not consider this a sale . Steven Hamilton II ..I thought holding period was irrelevant to dividends .. I thought this was just for cap gains and dividend rates ( 15 or 20) were just based upon your ordinary rate

Hey man welcome aboard..Bergen county I presume? Look at meetup., there are quite a few nj rei groups .. One of them even offers bus tours where they help you run numbers on properties and walk you through homes to show you what to look for. I use Charlotte in my sig bc that's where I invest because as mentioned up here returns aren't the greatest.

I would ask him what he would do differently if he were to start all over again