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7 February 2025 | 11 replies
They don't require employment verification, income or tax returns.
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2 February 2025 | 10 replies
Forming an LLC for your rental property can offer liability protection, but no real tax benefit.
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31 January 2025 | 10 replies
My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects.
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30 January 2025 | 10 replies
Approximately 6-8 weeks ago my attorney stated he was unable to get the delinquent tax 'owner' nor the squatters served in this matter.
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28 January 2025 | 6 replies
Any advice on what setup is easiest and most tax advantaged?
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3 February 2025 | 8 replies
I find that it's almost a one stop shop in that I can use it for my business checking and savings accounts, bookkeeping, for rent collection, I can issue virtual credit card, I can create all the financial reports I need to run my real estate business and prepare for tax filing and through their partners I can vet my tenants, develop state-specific leases and more.
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28 January 2025 | 11 replies
Yes, do the tax exchange if you can.
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7 February 2025 | 22 replies
Note that the diagram doesn't consider tax implications—that's another important factor you'll need to include in your decision.
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29 January 2025 | 4 replies
Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.