Brice Alef-Torrisi
Managing finances between multiple properties
14 January 2025 | 7 replies
@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.
Kin Lay
How to transfer my share of the house to my brother?
14 January 2025 | 5 replies
For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.
Anca R.
Is a 1031 Exchange allowed in this case, and if so, is it worth the hassle?
18 January 2025 | 20 replies
To give you an idea of what taxes look like on a sale below is an example for a property in Texas, obviously everyone's situation is unique and you'll need to meet with a CPA.
Lauren Ruppert
Can an LLC (sole proprietor) sell a property to an LLC belonging to a son/daughter?
20 January 2025 | 4 replies
Whether it's considered an arm's length transaction is debatable, but it's not illegal.Move forward with the sale and ensure full transparency with all involved parties, including your CPA.
Andrew Slezak
Opportunity zone investing
17 January 2025 | 2 replies
While OZ investments offer significant tax benefits, assess property risks and long-term potential beyond the tax savings.This post does not create a CPA-Client relationship.
Brandon Morgan
is an LLC necessary?
21 January 2025 | 31 replies
You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.
Nate McCarthy
Multi-party investing deal structure for BRRRR/House hack
19 January 2025 | 14 replies
A CPA familiar with real estate partnerships could clarify the implications for everyone involved.A great attorney or CPA can help you iron out the details and ensure the partnership benefits all parties fairly.
Armen Khalafyan
Real estate developer looking to network in Dallas Texas or Winder Georgia area
25 December 2024 | 1 reply
I'm an experienced builder and developer looking to network with other developers, investors, and syndicators.
John Davey
Can you deduct interest (primary house) from a home equity loan to buy a rental?
3 January 2025 | 11 replies
Our CPA told us that we would not be able to deduct interest from a HELOC if the funds were used for anything other than improving the property in which the equity is the source of the loan.