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.

Seems like an opportunity but looking for first-hand advice.

Person #1 has now deleted his account.

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.

At the beginning of every winter season, I send a message to the tenants with the account information and let them know to call the gas company if the heat goes out.  

Keep the majority of your money in your accounts $1.5M liquid reserves is a ton of cash so let it earn you interest.Use the Banks money to lend on a multifamily use a Fannie Mae loan its only 5% down but you can put more down to meet your target monthly payment.