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2 September 2024 | 7 replies
For tax purposes, the IRS sees you and your LLC as the same entity, so transferring the title to your personal name typically wouldn’t affect the 1031 exchange deferral.However, to maintain the tax benefits associated with the 1031 exchange, it’s important to ensure that the property remains a rental and continues to be used for business purposes.
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2 September 2024 | 11 replies
@Henry LeAn LLC is still useful even if you don't transfer the property.
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2 September 2024 | 7 replies
Here is what Gemini AI says, better put than I can:Land Contracts in Kentucky: A Brief OverviewA land contract, also known as a contract for deed or installment sale contract, is a type of real estate purchase agreement where the seller retains title to the property until the buyer has paid the full purchase price, typically in installments.Key Features of a Kentucky Land Contract: Conditional Title Transfer: The seller maintains legal title to the property until the buyer has fully paid the purchase price.
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30 August 2024 | 21 replies
Your current credit cards are always running promos for balance transfers.
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31 August 2024 | 7 replies
You can collect the money in many ways, I have tenants pay using secure ACH transfers using apartments.comI would declare this income because later on you may need the documented income to qualify for loans etc.
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30 August 2024 | 6 replies
One Fidelity rep says this account cannot be used to do ACH transfers, so I cannot use it to take rental payments from my property manager.
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31 August 2024 | 5 replies
They needed 3-5 business days to review and approve my wire transfer request that was just two pages long.Now SenseFinancial helped me restate the 401k plan and have no custodians.
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31 August 2024 | 9 replies
The water bill can be transferred to the tenant's name.
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30 August 2024 | 11 replies
Keri - you may also want to check into Fidelity - they have great bank account options - both business and personal - with $0 min, $0 fees including no wire transfer fee and no limit on the amount of money you can transfer.
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29 August 2024 | 9 replies
If rent is not paid physically at a branch (i.e. it is paid online or via bank transfer), the date of payment will be considered the date when funds reach our account.