I know a lot of variables have to be taken into account.

It was my habit also to instruct those who ran any business to be knowledgeable about the basics of tax and accounting in order to make better daily decisions. 

What would you recommend as the best strategy for accounting for this situation as we file taxes for the 2023 tax year.

You'll want to get a business bank account for the LLC.Do your best to keep personal and LLC transactions separate, document any funds transfers between you and the LLC.Your Trust should own the LLC, but you will be the LLC manager.

If they paid you by check you have their bank and account number that you can have your attorney try and garnish.

Person #1 has now deleted his account.

You should have masks with you at all times for environmental pollutants when looking at hoarder houses - animal feces, dead animals, asbestos, gas, etc.As for protocol, hoarder houses are not an easy buy because if the resident is still there it's not a money issue, it's an emotional issue.

Hi Patty - it depends on type of accounting method you use. if you are using cash method accounting, you can capitalize and claim in 2024.If you follow accrual basis, you record in a year when service is completed.Hope it clarifies.

My concern with FL real estate is that if something doesn't change soon, most property will be uninsurable except through excess lines and there is very limited accountability/oversight as to whether or not these over seas insurance agencies even have the funds for payouts. 

With AI companies accounting for 15% of new leases this year, the sector is becoming a driving force in San Francisco's post-pandemic recovery.