Katie Southard
Really want my rental in an LLC
14 January 2025 | 1 reply
If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.
Carlos Rodriguez
New to US market
11 January 2025 | 9 replies
I'm going to reiterate what's already been mentioned above, but I'm going to actually give you examples of why it's relevant to you to find a U.S. tax professional.1 - You're going to need to file U.S. taxes once you have property down here, there's federal filings, state filings, and sometimes local filings too2 - Tons of tax treaties between the U.S. and Canada that are easy to miss and can cost you a lot of money (important one with rentals - effectively connected income - if the professional you talk to doesn't know what this is, run away)3 - The amount of days you spend in the U.S. needs to be tracked and if you go over a threshold, all of your worldwide income could be taxable by the U.S.4 - Selling real property means up to 15% of your sales proceeds might not be available to you for years (FIRPTA)5 - Lots of nuance at the state and local levels, which both want to take as much money from you as possibleMain takeaway here is that you should find a U.S. based tax person.
Michael Plaks
EXPLAINED: sending 1099s to contractors and vendors
13 January 2025 | 8 replies
The short answer is: file form 1099-NEC.
Ricardo Garcia
Truebooks CPA - Feedback
9 January 2025 | 46 replies
My experience so far has made me regret my decision for TrueBooks to file my return.
Clinton Davis
What's the latest on this BOI?? Go or no go?
3 January 2025 | 13 replies
I have an LLC do I need to file this form to the IRS?
Chris Shon
Do I need a Real Estate Tax Accountant?
10 January 2025 | 16 replies
Quote from @Chris Shon:We started an LLC last year and are about to file our first return for 2024.
Dan N.
Can a Wyoming LLC own an investment property in ANY state?
9 January 2025 | 18 replies
If you file an eviction then it must be filed locally, if your LLC is sued they will sue locally.
Kin Lay
How to transfer my share of the house to my brother?
13 January 2025 | 4 replies
If you gift your share, it may trigger gift tax filing if the value exceeds the annual exclusion ($18,000 for 2024 and $19,000 for 2025), though no immediate tax is due if under your lifetime exemption.
Jaron Jackson
How to get rent payment from previous owner?
10 January 2025 | 8 replies
It is also the seller's fault for accepting it, they full well knew this was not right.If you were to file for eviction for non-payment of rent, you'd probably win.
Anjali L.
SSN for tenant
4 January 2025 | 6 replies
We have to file the paperwork for the DC complaint.