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30 September 2024 | 2 replies
I recommend focusing on getting a great investment property and disregarding Section 8 in that pursuit because any property can be a Section 8 property, but a lousy investment is lousy regardless of having a Section 8 tenant or not.Section 8 will perform a basic functional and safety inspection for your units after you have an agreement with a Section 8 tenant and your local housing authority.
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25 September 2024 | 7 replies
This has a lot of administrative overhead, the LLCs being disregarded entities may pierce the corporate veil.
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27 September 2024 | 15 replies
If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately.
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27 September 2024 | 13 replies
Otherwise, since you're not doing actual business in the state the LLC is based out of, the entity can disregard.
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25 September 2024 | 5 replies
@Lilly Fang, to echo Gregory's answer, a sole-member LLC is a disregarded entity from tax purposes, so no tax benefits or added costs in my experience.
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24 September 2024 | 8 replies
If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately.
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27 September 2024 | 18 replies
An LLC on its own is not going to accomplish your goals as the CRA considers LLC's to be "disregarded entities".
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23 September 2024 | 12 replies
If that is the case, this will be treated as a disregarded entity so no real tax separation or tax benefits I am aware of.
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24 September 2024 | 11 replies
But for me the complexity of getting out of an S corp plus the cost of running one just didn't make sense when I could eliminate net income so many other ways and still get the pass through from disregarded or series LLCs.
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22 September 2024 | 4 replies
I believe the IRS will consider the LLC as a pass-through disregarded entity.