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31 August 2024 | 16 replies
As for your question, it just depends on how knowledgeable you are to accurately report your income and expenses and to verify what TurboTax is spitting out.
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1 September 2024 | 79 replies
MLS, direct mail, through a wholesaler, etc.The property can be located in PA or NJ, they do not care.We have to send them a detailed comp reportWe have to have our GC's come out for bids (on our dollar)We have to have our inspector come out (on our dollar)We have to get the property under contract with a 10 day inspection period before we can show it to them or have their inspector come outThe contract has to be assignable$50,000 is the profit they ask us to shoot for6-8 week rehab time, no structural issuesOnce we find a property and get it under contract, we must immediately pay $795 for their inspector to come out, send them our comp report and our GC estimates.
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30 August 2024 | 9 replies
You would need to check the property disclosure report.
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29 August 2024 | 23 replies
I am interested from hearing from everyone that has a single-member LLC (SMLLC) that is a disregarded entity is generally reported on the owner’s Form 1040, Airbnb, flipping, wholesaling, to complex 1065 filers under subchapter K. 2.Accounting Costs: How much are you paying for ongoing accounting services?
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30 August 2024 | 25 replies
I say booking income because one property I was running reports on yesterday had 3 times the number of bookings from Airbnb but my direct booking income was 9% higher than Airbnb.
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28 August 2024 | 11 replies
When an individual whowould otherwise be a beneficial owner of a reporting company qualifies for an exception, thereporting company does not have to report that individual as a beneficial owner in its BOIreport to FinCEN.
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30 August 2024 | 7 replies
I try to reach out to them as often as possible to check on things and make sure there is nothing wrong that hasn't been reported.
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30 August 2024 | 15 replies
There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.
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28 August 2024 | 2 replies
When a person passes away, their income for the year of death (2022 in this case) should be reported on their final Form 1040.
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29 August 2024 | 5 replies
If he refuses and especially if he was an agent on this deal, I would report him to the local board of realtors and possibly also to the state's real estate commission.