A CPA will be good for advising you on taxes and how to setup the taxation of your LLC, but a asset protection attorney would be best suited for creating the LLC.

John Ryan,Look at this thread: http://www.biggerpockets.com/forums/12/topics/76052-simple-taxation-questions Here is a summary: Are there any significant differences between a LLC taxed as a proprietor vs a LLC taxed as a S-corp?

Always have them send you a SIGNED W9 form where their taxation status will be shown.

I have a question- What would you do if you had a friend that worked in Dept of Taxation & Finance in NY and you were able to get info on people with delinquent property taxes before it was public knowledge?

So in your example, capital gain tax at 25% rate (capped at max ordinary income rate) would apply on $25000 ($125K-$100K).

This means a percentage of the income generated by the property will be subject to taxation (paid by the IRA).

CPA and attorney should be able to explain what taxation type would work best for your particular situation.

LLC & 1031 exchange does not work for Canadians in terms of taxation.

In this way, you have a property that increases in value and depreciates for the purpose of taxation.

I work out of San Ramon and have been doing accounting and taxation for 8 years.