Nicholas Dillon
Taking additional cash from a 1031 exhange
7 January 2025 | 3 replies
This $100,000 would be taxed at the applicable capital gains tax rate (0%–20% federally, depending on income) and subject to depreciation recapture at a maximum rate of 25%.
John Malone
Are you aware of the new Corporate Transparency Act Coming in 2024 (every LLC)
31 December 2024 | 22 replies
Office; AND$5M or more in revenueSEC regulated investment companies + certain business already under strict regulations from the Federal Gov'tWho is a "beneficial owner"?
Alec Barnes
How Do You Ensure Quality Tenants?
9 January 2025 | 12 replies
I’m still learning the ropes of property management, so I really appreciate the opportunity to exchange ideas.At our property, we have a structured screening policy influenced by the Federal Fair Housing Act since our location falls under its scope.
Matt Wan
Getting a mortgage as a non-resident US citizen
23 December 2024 | 15 replies
Many borrowers file this form as an exclusion to their US federal taxes as they may have been taxed by the country where they are earning the income.Required Documentation for Foreign IncomeWhen it comes to processing foreign income for a loan, documents required may include:» Most recent personal tax returns» History of receipt» Proof of continuance of foreign income earnings» Conversion of the income from the foreign currency to US dollarsThese documents must be translated or completed in English so that a loan reviewer can properly evaluate the information provided.Fannie Mae & Freddie Mac GuidelinesIncome from Foreign SourceIncome from foreign sources must be reported on the borrower’s most recent U.S. individual federal income tax returns.
Megan Herrington
CPA Recommendation in ID
2 January 2025 | 6 replies
Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.
Abhijit Roy choudhury
FINCEN requires Beneficial Ownership Information filing JANUARY 1, 2025
27 December 2024 | 4 replies
Maybe not anymore, for now: https://natlawreview.com/article/texas-federal-court-issues-nationwide-injunction-against-enforcement-corporate
Al D.
Procrastinators Rejoice (CTA/FinCEN)
24 December 2024 | 4 replies
https://natlawreview.com/article/texas-federal-court-issues-nationwide-injunction-against-enforcement-corporate“We note this is a preliminary injunction, and we urge reporting companies to pay attention for additional updates and proceedings in this and other cases which could modify or change this order.”
Mark Beekman
Where can my LLC get a HELOC?
9 January 2025 | 15 replies
@Ken Sanders Here in central PA you could use S&T Bank and Members First Federal Credit Union can offer both Lines of Credits based on equity you have on an investment property (80% LTV) as well as business lines of credit.
Nathan Frost
Vacation Home Loan 5% down
20 December 2024 | 9 replies
Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email?
Ben Hofstra
Best Bank Account for my Situation
9 January 2025 | 9 replies
What is their federal lending limit?