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8 June 2022 | 8 replies
As said above that is when the length of ownership becomes important to your CPA.However if you want to avoid that complication and you reside in a non-community property state and you file a joint tax return with your husband you could have the properties quit claimed into a true single member LLC (either you or your husband as sole member) and elect to be taxed as a sole proprietor.
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10 February 2022 | 2 replies
A sole proprietor is what you are by default, even you sell some lemonade on the street corner...
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13 February 2022 | 3 replies
I currently only own one unit as a sole proprietor, but am looking to expand this year.
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12 February 2022 | 4 replies
That will actually raise more red flags then it avoids.Simply create a single member LLC ( you or spouse) that chooses to be taxed as a sole proprietor.
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15 February 2022 | 5 replies
We file as a Qualified Joint Venture, so sole-proprietor for each of us.
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21 February 2022 | 1 reply
I believe to be a bed n breakfast you must offer breakfast, so now this long term renter has to make breakfast every morning.If I had to guess, you're trying to avoid regulations and 'pretend' its going to be run like one, but in reality just use the renter as a placeholder in the regulation for the proprietor.
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24 February 2022 | 3 replies
Actually you doing business as a sole proprietor, and even without a Tax Id number you should be able to write down that expense because you was traveling for the purpose of business even with the deal falling through.
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29 March 2022 | 16 replies
Assuming you're a Sole Proprietor LLC, all business income or taxes must be reported on your personal tax return.
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1 April 2022 | 3 replies
Typically you'd use a DBA if you were operating the property personally (sole proprietor) but wanted to present like a business, you'd file the DBA to allow you to do such legally, or if the LLC name was not what you'd want to use for doing business.
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18 April 2022 | 4 replies
I am always a proprietor of holding as many of your properties as you can, but sometimes it makes sense to turn it over into something else.