All Forum Posts by: Logan Allec

@Mary Smith Are you sure you tagged your payment as for 2018?  If it was applied for 2017, you would have gotten it refunded, assuming that the S corp had no income in 2017.

Welcome, @Pablo Guzman.  Good to see other young L.A. investors.  Curious to hear how your mobile home syndications have performed.

@Joe B. No.  You don't get a tax deduction for gifts to family members.  If anything, you'll get an additional tax filing and a reduction of your lifetime exemption.

@Chung Cam The flavor of the month (year?) right now among my client base has been to invest in real estate crowdfunding.

@Freddie Williams Well, yes, generally-speaking, assuming you're interested in buy and holds, you would want your property to be in an area that has a gainfully employed workforce that can pay you rent...if you see that the unemployment rate in a given area is through the roof because that area has no jobs and the economic outlook is bleak...well, that may not be the best place for buy-and-hold unless you like evictions and vacant units.

@Ahmad Omar You don't need to file the 1065 in order to file the BPT-IN.

@Chung Cam Wow you look very good for your age if you have been buying properties for nearly 25 years.  Congrats!

Did you refi to get cash out over the years?  Or are you just sitting on a ton of equity?

Welcome, @Chung Cam!  We're in Santa Clarita, and we love to get away to Ventura (or Oxnard) every once in a while.

How'd you get into properties in the SGV?  Super competitive there, yeah?

@Ahmad Omar While you're probably OK with the Form 65, in my experience Alabama will come after new LLCs with no activity to make them file their initial business privilege tax return (BPT-IN) and pay the $100 minimum tax.

"A business entity that legally exists, but is dormant in its business operations, is subject to the Alabama business privilege tax filing and payment requirements."  See under "Why did I receive a Business Privilege Tax Delinquent Notice?" in the Business Privilege Tax FAQ.

If you haven't filed your BPT-IN yet, I recommend you do so ASAP since it's due 2.5 months after you formed your Alabama LLC.

@Tyler James mine is with IRA Services Trust Company.