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22 October 2020 | 5 replies
I sell for 172k I receive full payment on paper but 5k will be credited to them and I actually am receiving 167k disregarding agent fees and closing costs.
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4 November 2020 | 14 replies
I also agree that proper tenant screening can alleviate most serious issues, but was concerned about being able to take action for exceptional cases (unruly behavior, sudden disregard for house rules, etc.).
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8 November 2020 | 3 replies
e.g. disregarded entity, partnership, C Corp?
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24 September 2021 | 3 replies
If I input that I’m paying 20% of the purchase price, the calculator will disregard the borrowed rehab costs and run numbers as if I’m only borrowing for the home purchase.
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28 October 2020 | 1 reply
Tax filings, remember, aren't that much more complicated since single member LLC's are disregarded by the IRS so everything goes on your 1040's.
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3 November 2020 | 29 replies
@Michael Hebron JrIf you have a single member LLC with no special tax election you can pay whatever you want with it as it is disregarded for IRS and it all come down on your personal tax return.Now from an asset protection point of view, by using your llc to pay for things that have nothing to do with your LLC you are de facto creating an alter ego and lost any protection by piercing its company veil.You need to treat your company as a business.
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5 November 2020 | 7 replies
., since these entities are disregarded entities for tax purposes.
3 November 2020 | 2 replies
@Louis BaselIf the llc is disregarded for tax purposes you should be able not to pay rent as it does not change anything tax wise.However on the liability side you are commingling the llc asset with yours and it will be a factor helping to pierce your company veil.It is often recommended treating each entity as a fully independent business and to document activity between your businesses with contract and payments.
3 November 2020 | 6 replies
If the property is currently under your personal name, moving it into your LLC should not have any tax consequences, because such LLCs are usually disregarded/ignored for tax purposes.
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12 November 2020 | 4 replies
Are there any tax disadvantages to transferring rental properties to a single-member LLC with disregarded status?