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Results (1,526)
Soraya Kashani Quit Claim 1031 Exchange
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
Kate Jones First property banking
10 February 2022 | 2 replies
A sole proprietor is what you are by default, even you sell some lemonade on the street corner... 
Corey Mohar Rent Collection Option for Smaller Operations
13 February 2022 | 3 replies
I currently only own one unit as a sole proprietor, but am looking to expand this year.
Peter Padalino 1031 Exchange/LLC/Quit Claim Deed
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
Theodore Smith STR Business Sch E & Sch C questions
15 February 2022 | 5 replies
We file as a Qualified Joint Venture, so sole-proprietor for each of us.
Michael Higley Renting out house as a BnB - Full time renter lives on site
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.
Shant Kallibjian IRS Tax Filing Question - Newbie Here
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.
Kaylee Sheppeck Understanding LLC for Real estate investing
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.  
Joseph Green DBA for Self storage or not?
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.   
Devin Keener Should I rent this Denver condo out or consider it a flip?
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.