Jeff D.
changing llc members.....a tax event?
Hi! Is transferring 100% interest from one single member to another single member a taxable event somehow? Does there have to be a "purchase" of that membership interest by the new member for some dollar amount fr...
JDee Moore
Property taxes in California
BP,Just received a property tax notice. Reading the notice front to back, I realized that I can apply for an exemption because I occupy the property (being my primary place of residence). Here is the problem I've been...
Abigail Pusey
Buying Property of Absentee Owner
Hey guys,I was driving around my neighborhood when I found a run-down property. I looked it up on the county site and found out that the owner had a judgement against them personally and is from IL. A lien has been pl...
Brian Caudill
They’ve been squatting for SEVEN years!!!
Hey guys, my girlfriend and I are looking at purchasing a property for 25% of its market value. The only thing we are worried about is the fact that a family has moved in and has been squatting for seven years! We are...
Tom States
401k rollover to checkbook IRA LLC?
My game plan was to rollover my 401k to a checkbook IRA LLC. But the mortgage company wanted to close fast on a short sale before I could set up the LLC, so I had to rollover my 401k to a traditional IRA and take a di...
John Hager
Funding question for a 506b syndication, reg D
I had a tax related question regarding a self storage investment I am getting into. I am trying to figure the best way to fund the investment - either cash or through cash in a self directed (traditional, not Roth) IR...
Sean Yang
Looking for a CPA in San Diego
Hi I am looking for an investor friendly CPA in San Diego area who is experienced in rental properties, fix&flips and gap financing, etc. Also looking for an attorney who knows how to best setup LLC's to handle ou...
Matt Tang
foreclosure owned by bank for 2.5 years
So there is a foreclosure that I am interested in. The property was foreclosed upon by one of the big national banks. They took title of it in late 2011. I am 100% positive that the former owners do not live in the pr...
Amar Khaira
Taxes on LLC profits
I have a rental property under a LLC with a business partners(2 partners in a LLC). How is profit taxed in LLC? Lets say the rental property generates $100 net income every month. In the end of the year if we dont ta...
John Lee
Owning a property with a S-corp.
Hello BP members,A couple of my family members own a commercial property with a S-Corp.I noticed on their tax returns that they do not pay any salaries nor distributions to shareholders.They told me that their family ...