@Junior Picanco , If a husband and wife wholly own a limited liability company (LLC) ( if you have not elected to be taxed as S-corp yet) as their community property, they can choose whether to treat the LLC as a disregarded entity or as a partnership for federal tax purposes. 

Have you made a tax election to treat any of your LLCs as a regarded entities taxable as an 1120 or an 1120S?

Under the final tangibles regulations, you may elect to apply a de minimis safe harbor to amounts paid to acquire or produce tangible property to the extent such amounts are deducted by you for financial accounting purposes or in keeping your books and records.

With some of the large tech companies coming to Indianapolis this year and the strong job market growth, I anticipate continued appreciation as long as the economy doesn't tank as soon as the elections over.Normally, Indianapolis has not been a place of major appreciation but a has a very stable economy and a fairly low cost of living.

Even with that said - there are certain elections that you can make which would allow you to currently expense it instead of capitalizing it.

@Nathan WiebeThe following is the definition of a foreign person under form 8288.Foreign person - A nonresident alien individual, a foreign corporation that does not have a valid election under section 897(i) to be treated as a domestic corporation, a foreign partnership, a foreign trust, or a foreign estate.

We have elected to see if that markets cools and look elsewhere for investing while we wait.

ELECTION UNDER SECTION 761 As stated above, partnership interests are specifically excluded from the application ofSection 1031.

daniel has the right idea. you can elect to pay everything for the owners if you choose, or just a few things that you agree upon. every contract is different. depends on what you arrange with the client. your fee should be adjusted accordingly to what you take care of for the client as well. 

In the first example, you form a corporation in your state and make the S election.