A friend of mine has an LLC that he has never filed a tax return on.  Is that legal?

I was starting to build, edit, and run a few deals through a spreadsheet I developed.  Below is an example of the financial statement portion of the spreadsheet.  I was wondering which number the IRS uses to determine...

My husband and I were intending to buy our second investment property.  However, we have filed to pay taxes late this year because we owe a big chunk of money to the IRS.  I am wondering if we should create a payment...

I live in Rockford Illinois and I plan on purchasing a property and renting out a couple of the bedrooms with a short lease and contract. I'm having a difficult time finding the correct information online regarding th...

Morning BP!Does anyone have any advice regarding doing your own title searches? I've been spending a considerable amount of time researching the tax deed sales process in Florida, and although I'm starting to feel a b...

My partner and I want to form an LLC before I purchase some property in NC. I've heard many ways of doing it and to start it. Whats the best way to get started? where? do I need an attorney? is everything online?  Tip...

Dear all!,Does electric fireplace replacement count for repair or improvement?The real question is can I deduct the expense at once or must I depreciate it from tax perspective?Thank you-Alik

I bought a 2 family house and live in one of the rentals. Renters pay own utilities minus water and sewer. I created a security deposit and a personal account dentoted as a rental income checking account. My next move...

Would it necessarily be true that the more deductions you claim on your tax return the less a bank will lend to you because of your lower taxable income?

So therefore, isn't this technically a catch 22 situation wher...

Any of you guys in a state that allows series LLC use them? There is not much info from the IRS on these new entities and I am getting slightly different information from my accountant and attorney. Do you have t...