You may also need to consult with a CPA regarding tax implications.

Gwyeth Smith - obviously ask your cpa. if your spouse is a real estate professional, you can deduct 100% of your jointly owned investing passive losses as “active”.

Your gain is sales price less sales expenses less adjusted basis.Your adjusted basis is purchase price plus improvements less depreciation.Also factor in any passive loss carryforwards when calculating your gain.Your CPA should be able to discuss with you what tax implications would be upon sale.

Meaning your CPA and Attorney.

*This post does not create a CPA-client relationship.

(talk to your CPA/tax professional for more information)- You can request a pack-and-play for your room if needed. - There is an awesome playroom (great for littles) and an arcade (great for kids and adults alike).- There are also childcare options on-site as well, which can be booked via the resort. 

Please note that I am not a CPA or an attorney, so please seek professional advice for any legal or tax questions as I know just enough to be dangerous!

Doing everything in QBO allows me to have visibility on my projects and allows my CPA to easily access the reports for tax prep.

@Joanne PotrosDo you use a CPA?

Initially we set it up as a partnership LLC, but after consulting with our CPA we realize that we could have and should have done it as a single-member LLC so that we don't have to file a 1065.