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30 April 2024 | 9 replies
Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.
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1 May 2024 | 1 reply
Profit/Loss Statement and Balance Sheet for the Property: At a minimum, we would want a profit/loss statement and a balance sheet for the most recent complete year as well as year-to-date for the property, but we would prefer to also get the last 2 years of tax return pages for the property.
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30 April 2024 | 4 replies
Its also more cost efficient compared to NY in terms of fee's and overall costs to set up LLC.When I set my LLC up in Fl it took literally 15 minutes and you will need to get your Tax ID/IEN set up so you can get your business checking account set up with a local FL bank.
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1 May 2024 | 14 replies
Nevada has lower taxes and more landlord friendly without the hassle of traveling to the midwest.
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28 April 2024 | 8 replies
Hello,Can I include rental loss in my tax filing for last 3 months of 2023?
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29 April 2024 | 23 replies
Now you can afford furniture without swiping a credit card.
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30 April 2024 | 5 replies
Aloha,While I am sure in many rural areas it would not be an issue, generally the USPS only delivers mail to addresses from the property tax records.To split utilities, it largely depends on how they are currently configured.
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30 April 2024 | 1 reply
Zero credit facilities or mortgage options and investor lethargy.
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30 April 2024 | 4 replies
Its going to be managed by a property manager and thus a passive investment which is allowed per h1b rules.However, I am being needed to procure state and county hotel tax certificates which almost seems like I am launching a hotel business in the records of state.I am starting to wonder if this can cause issues down the lane when renewing my visa or applying for green card.If anyone else has a similar experience or own STRs on h1b, urgently want to discuss this with you.
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30 April 2024 | 2 replies
Navy Federal Credit Union, they do it for investment property.