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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.
17 January 2025 | 2 replies
We were not able to recover any yard damages due to other damages they had left that needed repair, which empted out their security deposit.
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19 January 2025 | 147 replies
“I’m literally the nation’s leading expert in tax liens and tax deeds,” he boasts in one installment.
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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.
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9 February 2025 | 6 replies
Agreed - plus two additional thoughts:1) I always recommend having your CPA also review the drafted operating agreement for the tax issues.