Quick question for a tax professional, I've read extensively and started to draft a modification for our partnership operating agreement - but want to verify that this method works.  

Mindset and approach will play a vital role in seeing the process to the finish line.The application of language is key here inclusive or otherwise.This is a bump on the road and not a stop sign,you can do it and win your husband over if you really want to see it happen and create a legacy for your family.Good luck sista and have the mindset and attitude that says forward thinking and backward never.

I keep hearing from other sources that we must include the entire projected gain as income (all at once) in the year we made the modification to the note.

We do not permit our tenants to affect modifications or repairs to the property without our {written} consent.

I am an attorney and have sued many people successfully and went after their LLCs assets because they had plenty of equity in those assets (and of course that was beyond their insurance coverage)For quite a few years now instead of placing each one of the properties in a separate LLC (which would cost our clients a lot of money and hassles) What we do is strip the equity by placing a special kind of lien against the equity of each of their properties.There is a way to do that with legal reason and the liens are to their own LLC (just one LLC entity in WY that can strip the equity of all their portfolio of properties making it impossible for anyone to collect anything beyond their insurance coverage)By the way the structure I am writing about here keeps our clients in full control with no on going fees or modification fees and they only pay a small amount to keep that one LLC current each yearThis of course has to be structured prior to being sued because if you use our services to structure your assets in this manner, it will only take 3 days but if you have a lawsuit that has been filed against you, there is a 50/50 chance the plaintiff's attorney will complain to the court that the liens were placed after the lawsuit had been initiated.

This is why establishing relationships with contractors is so vital for peeps who want to do this stuff continually.Good luck.

She said her daughter tripped on it and her dad almost tripped on it... we are not planning to do any modifications but I don't know how to tell her no to her request in a way that won't escalate the situation. please advise!

It can also be an illegal transaction by acting in a mortgage brokerage capacity and making a modification to an obligation, and as the initial borrower, you can't modify the obligation at-will.You might drill down a little more on this deal, not by the numbers, but as to the intension desired, we know it's to make a profit, but by doing what exactly?

You might offer every two weeks for the same price or with slight modifications to get ahead of the price drop being announced.Good luck!

For the years ended December 31, 2010 and 2009, they spent approximately $635K and $789K, respectively, on marketing.Interesting information I can see that with some modification this opportunity could have some serious potential if they can clearly communicate what measures they use specifically to minimize risk during their DD process then they'll become a bit more trustworthy.