All Forum Posts by: Melissa Mauro

NJ LLC's have annual filing requirements just to maintain LLC status. This is regardless of income taxes. [I am nearby in Bayonne.]

 New Jersey Annual Report

@Melissa Mauro

I think the crickets here on your post speak for themselves. 

1.) Most REIs don't self-file their LLCs 2.) For LLCs that are required to file and don't -> IRS failure to file/late filing penalties are $70 per member per month. This adds up quickly. 3.) CPAs generally charge more to amend a return especially if it's a mess so self-filing and having a CPA clean up your mess later, if you get it wrong, won't necessarily be cheaper.

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*This post does not create a CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.

@AnnMarie Bacchus From one of your comments about being sold REI pkg, perhaps part of the issue is your search for "REI cpa." Personally, one doesn't need a "REI" specific cpa. Honestly, I don't think people always need a CPA since that certification is for public accounting --- this isn't public accounting and GAAP.

But, you need a to find a competent accountant.  Like most professions, its as "practice."  In my experience, the smaller accountants don't always have the experience, nor the infrastructure.  When it came time for myself, I just went to a large firm for assistance.

Hope that helps.  Good luck.