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7 October 2021 | 17 replies
May not be worth the effort. 3) If your LLC is setup to be taxed as a disregarded entity, then there shouldn't be any concerns receiving rental income in either name - it should all flow through to your personal return either way.
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15 October 2023 | 8 replies
1) as a “not a CPA” I don’t think it will work because the LLC is disregarded entity so you aren’t really selling it as far as the IRS is concerned, but “ask your cpa”2) is your LLC going to be able to get a new loan and pay today’s interest rates?
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15 October 2023 | 10 replies
I often find that sometimes people also disregard the Net Investment Income Tax when calculating the estimated amount of tax upon sale.Also, don't forget about any improvements made to the house over those 20 years.
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5 November 2022 | 2 replies
A quote from Mark Twain.There are three kinds of lies: Lies, Damned Lies, and StatisticsWhenever I hear the word “adjusted,” I know someone altered the data to suit their purpose and should usually be disregarded.
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24 June 2018 | 2 replies
On another note, why do so many people disregard the zestimate?
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14 October 2023 | 0 replies
In essence, this would allow creditors to "pierce the veil" and seek recourse beyond business assets to owners' personal assets.The creditors may be able to establish that the organization is merely an alter ego of the owners.This may be demonstrated by making personal purchases with business assets.Making personal purchases from business accounts such as education expenses or daycare.Receiving deposits to owners SSN instead of the business EIN.Lack of documentation such as 1099-NEC's for amounts paid to contractors by entity.Thinly capitalized organizations.Lack of formal proceedings for some types, such as minutes from meetings or officer selection if a corporation.Personally guaranteeing otherwise nonrecourse loans.Paying personal and business expenses from one account.State laws are generally the relevant guidance in establishing the condition that allow for a disregarding of the division between business and personal assets, much of which can be gleaned from case law.In essence, avoid the commingling of funds.
25 October 2019 | 3 replies
Please disregard.
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25 February 2020 | 3 replies
@Steeve Gauthier I have no firsthand experience with FHA and 203k loans, so you can disregard if your question is only focused on those products.As for the renovated vs fixer-upper, it depends.
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22 October 2023 | 55 replies
I contacted the policy issuing agent who advised they found the mortgage in the search but disregarded it based on a policy issued by national title insurer 1 (NTI1) and the NY MIA.