All Forum Posts by: Account Closed

I recently started a wholly owned LLC to perform fix and flips initially, with the idea of transitioning to buy and hold as the cash reserves allow. Is there any tax incentive, or disincentive, to transferring my primary residence to the LLC and renting it from the LLC? Or is it a wash since LLC income is passed through to the owner(s).

Hello, 

I am considering taking my social security income early.  I found there is an exception to the earnings amount limits I can make after taking social security when I receive income from rental rooms or apartments for social security purposes.  However I must be able to not show the income as earned income, wages, or self employment.  How can I do that?  The helpful social security staff said it would need to come through an entity, corporation, ?

Thank you!

I've been looking for good investments in my area (charleston, SC) since January and can't seem to find anything that will cash flow that 1) are in a decent/safe area or 2) cash flow according to my formula.  I feel pretty confident in my formula (which is conservative but not too conservative), so I don't think that's the problem. 

I've also considered flipping, but I just don't have the experience to feel comfortable w/ that..

I am trying to purchase a property but do not have enough for the down payment yet as I just purchased another property recently...

Hi Folks,

Your input is much appreciated!

Why would a single filer full time employee for ABC company making 100k per year in the 28% tax bracket

Ever want to becoming self employed and have to start paying self employment tax? 

So basically 28% + 15%?

What is the advantage to being self employed?

Because right now I am having a hard time figuring that out. Since lenders and landlords do not like them.

Hi- 

I have recently formed an LLC with my partner at the request of a hard money lender in order to get a loan, they also want to see my personal funds in an account under the LLC. If I transfer my personal funds into the LLC account for verification of funds and then back into my personal account right away-are there tax ramifications to doing this??

I most likely will be moving a property into an LLC. Most likely the lender will notice the deed change and call the loan. This means I will have to pay it off. I can do that. But I don't want to have that much equity tied up in that one property. What's the best way to get that money back out? Looking to understand the tax and liability consequences.

When exactly do I have to do what in the first year and the following years? If I am already too late for the $800 annual tax, are they going to fine me if I pay that now?

Sorry, this might seem very basic questions. I just feel a bit overwhelmed with this official government english...

Thanks Simon