I doubt 10% of the GRM will equal enough to where an S filing status makes sense.The home office and such is nominal so that alone isn’t worth doing this.

If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.

They don't file for you with the state, they claim it cost extra to do that.

Recently over 165 lawsuits were filed in Chicago against small landlords who declined Section 8 tenants.

Hey Matt, As a solo-shop, I use the following to stay on top of my client's minds and files: 1.

@Jeff Love Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.

Then the compile everything at year end and file taxes.

Without going into too much detail, my current situation stems from selling a previous company via partial owner financing, only for the new owner to default on the purchase, leaving me in this position.For traditional financing, I understand I’ll need at least one, if not two, years of solid credit history, tax filings, and other financial documentation.

If you gift your share, it may trigger gift tax filing if the value exceeds the annual exclusion ($18,000 for 2024 and $19,000 for 2025), though no immediate tax is due if under your lifetime exemption.

Much better than a legal filing or media attention.