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9 October 2024 | 9 replies
Assuming you are in the 22% - 24% federal tax bracket for most of your income, your tax would be about $76,000(disregarding standard/itemized deducitons and other income).If you can somehow show rental losses = $300,000, you would get a refund of her federal taxes and potentially state taxes also.
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8 October 2024 | 10 replies
You can treat the LLC as a disregarded entity and rely on your SS#.
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8 October 2024 | 10 replies
@Avery Moore From a tax perspective, purchasing properties through your LLC won’t necessarily change your tax liability, as the IRS often treats single-member LLCs as “disregarded entities,” meaning the income and expenses flow through to your personal tax return.
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3 October 2024 | 8 replies
If you’ve been previously contacted by one of my colleagues on this platform, kindly disregard this message.
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7 October 2024 | 24 replies
If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately.
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1 October 2024 | 5 replies
Will an appraiser disregard the income from the non-conforming garden unit when assessing the property for refinancing?
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3 October 2024 | 11 replies
If they disregard your notice to move out, you file for eviction.
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4 October 2024 | 13 replies
As a landlord, I verified the work needed by pictures being sent, and arranged for a contractor to go in person who is licensed and insured to give an estimate for the work stating to management company this would likely have to come out of a security deposit.The management company was initially asked prior to me arranging this appointment with contractor, to have someone professional quote the damage, and they disregarded my wishes and without my knowledge, or notifying me, granted consent to the tenant to fix the door " in any way they see fit, and to attempt to fix it themselves to the degree of their liking."
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30 September 2024 | 1 reply
If you deed a property from your personal name to an LLC - especially a disregarded entity - it doesn't really do anything for taxes or asset protection.