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29 August 2024 | 8 replies
If you have multiple entities you can get an ID number that makes it quicker to fill out for subsequent entities.
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28 August 2024 | 5 replies
It's also common to encounter retail branch employees who are not familiar with the entities and various ownership structures real estate investors utilize since they are normally opening personal bank accounts.
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29 August 2024 | 3 replies
The IRS typically requires the same entity that performed the 1031 exchange to continue owning the property to maintain tax deferral.To avoid any unintended tax consequences, it’s crucial to consult with a 1031 exchange expert or tax advisor before dissolving the LLC or making any distributions.
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28 August 2024 | 11 replies
. Yes NoBeneficial Ownership Information Reporting RequirementsSmall Entity Compliance Guide, December 2023 - Version 1.130Employee (Exception #3)An individual qualifies for this exception if all three of the following criteria apply:1.
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28 August 2024 | 7 replies
Put one, a good one, in place ASAP.Leases are attached to the property and not suddenly cancelled when a property sells, so moving it to another entity later should not make a difference.Your loan processor was correct that FHA does not allow homes to be moved into an LLC.
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28 August 2024 | 1 reply
Sometimes you can do property searches with the property appraiser and stumble on multiple properties owned by the same entity.
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27 August 2024 | 3 replies
If you’re opening a bank account out of state of your LLC, generally you’ll need a state business license for the state you want to open the account and register as a foreign entity.
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29 August 2024 | 9 replies
And no middle-entity scooping out a percent fee.
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27 August 2024 | 18 replies
I would think that setting each cell up as a separate entity would solve the matter.
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28 August 2024 | 4 replies
Then throw in that you as a person gave an entity a property for free (QCD it to your LLC), do you think a good attorney would basically say this is commingling as the LLC does not pay the mortgage, the mortgage is in your name....