Mark S.
Paying LLC Attorney Fees/Costs - From Personal or LLC Account?
So, I finally decided to start an LLC. After much debate and discussion, I decided to use my local attorney to do it. I checked with a tax advisor and they said all the start up costs are tax deductible, which makes...
Yixue Zhao
What (personal) account do you use for real estate investing?
Hello, I'm just starting out and I read that we should have a separate account for our real estate empire, which makes a lot of sense. I don't have an LLC and I'm wondering what (personal) account do people usually us...
Joseph Hoot
accounting for personal 401k loan for 25% down on mortgage
Hi fellow BP'ers!We recently took a personal 401k loan and used part of it for a 25% down payment on a mortgage (assume $25k). Additionally, we tacked on ~$6k in rehab costs to a personal credit card.With regards to ...
Debra Johnson
LLC or run through personal account for taxes and banking
Just purchased single, out of state, property for STR. We reside in WA. STR in Boise, ID.
As a married couple do we set up LLC or run expenses and income through our personal names? This is in regards to banking and ...
Debra Johnson
LLC or run single STR through personal account and taxes
Just purchased single, out of state, property for STR.As a married couple do we set up LLC or run expenses and income through our personal names? This is in regards to banking and taxes?
Ryan H.
Switch to Personal Checking Account if Not Classified as Business
Some time ago I opened a business checking account to separate out my rental income and expenses from my personal income and expenses and because I thought that, from a tax perspective, my rental activity would qualif...
Tristen M Walker
How to Setup Business Accounts
How do you guys/girls setup your business bank accounts? My questions are:Do i need an LLC for a business bank account? Can i hold multiple security deposits in one account? the money wouldnt touch my personal account...
Account Closed
Vancouver WA Local Bank Credit Union Recomendations
I am pretty fed up with my big bank and want to move my accounts. Has anyone in Vancouver WA developed a good business relationship with a local bank/CU? If so, can you please share your experience? I am looking to...
Joshua Ferrey
HOW DO YOU TRANSFER PROFITS FROM RENTAL?
Hello BP community! Im closing escrow on my first home purchase that I will be living in for a couple of years while I rehab it before I rent it out and move on to the next property, as I want to buy and hold. My ques...
Ryan Alexander
Question for Veteran Agent/Investor: Best way to set up bank acct
I had a question for seasoned real estate agents/investors: how do you set up your bank accounts?I have my real estate license and just getting into investing and have an LLC. Obviously I’m setting up a separate accou...