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6 January 2017 | 4 replies
@Jonathan David I wouldn't put butcher block around the sink area, maybe a secondary counter for visual appeal if I needed the kitchen to feel warmer.
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25 June 2018 | 6 replies
Whether the courts of a non-series LLC state would respect the liability shields of a series LLC is not known.The IRS has issued proposed regulations providing insight into the IRS’ treatment of these entities:1) Each series within a series LLC will be treated as a separate entity for federal income tax purposes;2) Each series is allowed to choose its own entity classification independent of the classification of other series; and3) Each series should only be liable for federal income taxes related to that series.The proposed regulations do not address the entity status of a series organization for federal tax purposes nor do the proposed regulations specifically address whether each series within a series LLC should obtain a separate employer identification number (EIN) and file a separate federal tax return.Until final regulations are issued, I advise clients to obtain separate EINs and file separate income tax returns for each separate series which, I believe, helps each series maintain separate and distinct corporate identities, thereby reducing the risk anyone may be able attached a judgment to you or another series and pierce the corporate veil.Other ways to minimize the chance that one series may be held liable for liabilities of the entity as a whole (or another series) include the following:1) Create a separate bank account for each series (again, you’ll need a separate EIN to do this)2) Don’t commingle funds within series.3) Always sign documents in the name of the series.4) Properly document all loans between series.5) Conduct all transactions between series in an arms'-length manner at fair market prices using appraisals.6) Keep the assets and operations of each series separate from the other series.
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6 March 2018 | 0 replies
Do you inspect all properties prior to determining a price or do you just do a quick visual combined with your seller interview and use a formula?
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20 February 2021 | 84 replies
HUD lowered the floor from 40 micrograms/SQFT to 10, window sills from 250 to 100 and window troughs 400 to 100.Now, we see senator Portman who is a hard core conservative republican join others, including democrats, on this issue.For those who think that dust wipes ought to be omitted from the Toledo Ordinance, Portman's new regulation assures that dust wipes are necessary and visual inspection as is, is now obsolete."
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2 September 2017 | 2 replies
What do you all do with window treatment at your rental?
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29 September 2017 | 6 replies
Can I charge the tenants for the cost of treatment or do I have to take on this cost?
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24 September 2019 | 69 replies
CPA firms discuss RE and tax treatment.......The information is out there, it's just that people are too lazy to work to find the information and read it!
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11 October 2016 | 3 replies
Note: Although this asset class description says "refinance expenses", I enter my points as if they were refinance expenses because the tax treatment is exactly the same as the loan origination fees for a new rental acquisition.
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23 October 2018 | 13 replies
Semi-annual inspections are perpetually delayed, I rarely receive thorough move-out inspection photos and summaries (I do not live in the area, and these inspections are the only means by which I get visuals on the property).
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10 January 2010 | 6 replies
I just wanted to ensure that there wasn't any special "treatment" that I should give them.Thanks all for your replies!