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27 September 2024 | 3 replies
Cars are covered by car insurance, not homeowner or renter policies.Tenants files a claim with their car insurance, and you don't do anything.
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27 September 2024 | 13 replies
There are two separate issues here: one is combining your personal and business banking which can complicate filing your taxes and is generally frowned upon.
26 September 2024 | 5 replies
In my view it more useful to focus on the total asset value rather than the number of properties in the LLC.I have found that filing the 1065 for a partnership LLC is simpler when the total asset value is less than 1 million.
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27 September 2024 | 10 replies
You are moving into a very gray area if you are borrowing money from more than 1 family member and it's not for a specific deal as you should need to file an exemption from the SEC.
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26 September 2024 | 9 replies
This can be fairly straightforward, depending on your agreement and if a partnership return was ever filed, you'll want to report half or your portion of the basis in the property as well as half the sale price minus expenses.
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29 September 2024 | 13 replies
As it is, I've gone back to just keeping paper receipts in a file folder and electronic receipts in a gmail folder.
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27 September 2024 | 11 replies
You are simply just going to be paying your accountant to file 3 tax files for 1 property.
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26 September 2024 | 10 replies
I then hired an architect (or at least I thought it was an architect) to use the CAD file from the surveyor to draw the proposed addition to the house by using the surveyor's site plan.
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25 September 2024 | 18 replies
You are subject to failure to file and failure to pay penalties.
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27 September 2024 | 44 replies
They also seem to be keeping up with the LLC state filings every year (I check the secretary of state website from time to time).