Sean Williams
Quit-claiming from LLC to Personal - What Taxes Should I Expect?
Greetings BPers,This is a question directed more towards the accountant gurus of the crowd, or those with experience in this type of specific transaction...I have a situation where I'll be acquiring a property via a q...
Frank Y.
Borrower change from LLC to C-Corp impact on current mortgage
Hello all: We lent money to a LLC (two members) last month, and now the LLC wants to change its structure to C-Corp. What impact do we have to our current Mortgage and Note, or what do we (private lender) need to do? ...
Gordon S.
Filing EIN confusion.
Hey everyone, EIN filing time for my single member LLC. My attorney was so kind to include some documentation about filing for the EIN...but alas my simple mind cannot figure out this quote for some reason. Or maybe I...
Mary Jay
Each LLC (entity) files its own tax return
Hi guys,Can anybody explain to me please this...Ive heard from one RE investor, who owns about 300 properties, that his accountant files a separate tax return for each LLC/trust, etc (if I understood him correctly)......
Sam Zachary
insurance denying upstairs toilet leak damage!
Hi Everyone, I'm new to Bigger Pockets and was wondering if anyone has any ideas about recourse regarding a situation I'm in. I own a downstairs condo unit. Upstairs unit, owned by someone else had a leaking toilet ...
Ryan O.
Taxes For New LLC
I tried to search BP for an aswer to my tax question to no avail, so I'm hoping to get some answers by posting here.
In 2012 myself and a partner rehabbed and sold 1 property in our own names, did well, and decided t...
Thomas DeMoss
Changing to single member llc
i set up my llc with my wife and i, each having 50% ownership. This was suggested by my lawyer, but not sure why. I filed my taxes and recieved a $600 bill from my cpa to file for the llc which holds two properties. ...
James Galla
Assignment/Transfer of Income Stream
So what are yall's thoughts on this scenario:Imagine my wife and I own one rental property, jointly, in our individual capacities. If I gift her my 1/2 interest, terminating my right to that property, does that gross ...
Tim Matthews
Should Single-member LLC be Manager or Member Managed?
For a single member LLC that has real estate and that is owned by a Nevada Holding Company LLC, should the real estate LLC be member or manager managed? What are the advantages and drawbacks of each managing type with...
Amy Konopka
CA Entity Change C-Corp to LLC--Entity number not compatible with CPA software!
**WARNING** Do not try to read this Post unless you're truly a Tax Nerd In April 2022 the SOS/FTB --someone in CA Taxland changed HOW Entity numbers are assigned during a conversion. The FTB is not recognizing Secreta...