We all do the same thing, we just call ourselves different names and carry similar but different licenses:- CPA - Certified Public Accountant- EA - Enrolled Agent - Accountant - Tax advisor - Tax strategist- Tax consultant - Tax plannerIt all means basically the same.

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

Where is the income tax of 49% here?

That will show what proposed tax increase you will see.

@Jeanette LandI always recommend using a tax professional.

What paperwork should I keep a paper trail of to make things like taxes and other situations better/easier for myself?

About 90k that will be taxed at 40% if I take it now.

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

Quote from @Joshua Alcantara: Quote from @Peter Walther: I've found many properties with title issues wind up with unpaid property taxes so checking on delinquent taxes, tax deed sales and lands available for taxes might help you identify some.Thanks, Peter, for the info!

The contributions are lower so it takes a while to build, but once you do, it's tax-free investing.