Additionally, you may wish to speak with a CPA as to whether or not becoming an S Corp is the right decision – they can assist with reducing self-employment taxes.

We were actually named the 4th Best Place to Work in America (small employer) {https://bestcompaniesgroup.com/americas-best-workplaces-awar...}.

Thus, I have worked 2 jobs (1  is self employment) for 7 years to fund purchasing a few single family homes locally. 20k is not enough to purchase IMO, that should be your savings AFTER your purchase.

When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18.

Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

These are primarily found in cities with a metro population >1M.Pro-business environment: Many cities treat employers as adversaries through restrictive policies.

I´m an out-of-country investor looking for help with my legal and tax structure.Since I´m just starting out, I need help with the basics: setting up the LLCs that we will use (looking to invest in different states), getting an ITIN, opening bank accounts, and identifying the tax strategies that we will employ for the deals we want to make.I appreciate your recommendations.

She might qualify to get a month's rent paid because of this employment disruption. 7.

One thing to consider is that in terms of wealth building and Kiyosaki's Cashflow Quadrant, owing a rental and doing work yourself is putting you in the self-employed quadrant, not Business Owner or Investor.I think there are a lot of factors stacked against California for long term rentals, and I think you know it too! 

Maybe talk with some realtors who have people who cannot get a loan because they are self employed, but have plenty of down payment.