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Results (10000)
Anthony Milin Looking to set up my LLC
2 October 2022 | 2 replies

Hello BP community,As I’m starting my venture in REI listening to all the advice of having an LLC for your properties. This is to project you from any law suits as well as tax benefits. From what I’m told the LLC need...

Shirley Sears Newbie to Flipping houses
8 June 2020 | 5 replies

I’m a newbie in flipping house. I’m familiar with taxes but unsure how to file this flipping business. Do I file schedule c or 1120s? Do not want business attached to my personal taxes.

Parmer Cherry Tax right offs for rehab demo
28 September 2018 | 2 replies

Hey guys,
I am a new real estate investor and I am trying to save money in every way during our second deal, first rehab. I remember working for a real estate investment group and they mentioned taking the removed fa...

Scott Everhart Land Trusts and their role in an overall Asset Protection Plan?
5 November 2017 | 2 replies

So, I've seen a lot of info on the drawbacks of using a S-Corp to hold your properties. LLCs seem to be the more recommended entity to use. But, it seems by themselves they too can have gaps in an overall Asset strate...

Henry Argueta Building your own real state company.
30 June 2021 | 4 replies

Hello everyone. So my question is the following. We want to created real state company.And go on our own. With the ability of purchasing commercials and real state What licensing or permit needed to start? What are th...

Mohamed Nagoor Year End Accounting Question for Flipping Business
10 December 2018 | 3 replies

Hello BP Team,I'm in the process of selling my 1st flip via my LLC. I do maintain records and receipts of all of my investment activity for this flip via excel. Trying to understand the Accounting/Book Keeping work n...

Mike Stone can I use NON 'passive losses' for short term rental property ?
1 March 2022 | 4 replies

A CPA (in prior year) told me that if my rental property has avg rental period LESS than 7 days than my losses can be treated as "NON passive" on form 1065. in this case they go on page 1 of the 1065 and I do NOT comp...

Alexander Flores Forming a 2 Person LLC New Jersey
8 November 2016 | 4 replies

So I currently own one rental property I own and manage through an LLC where I am the sole proprietor. My question is if my sister and I form a new LLC where we are co owners and each own 50% of the LLC, how would we ...

Jennifer Niez 1031 Exchange - Transfered to Revocable Family Trust
10 October 2023 | 3 replies

When I did my 1031 exchange I of course put my up leg in the same vesting name as my sold property. It's been 3 years now and I want to place all my properties in my revocable. Zero money will be exchanged. Just want ...

Johann Jells Liabilities of using personal VISA for LLC expenses, paid by LLC?
22 March 2019 | 2 replies

As I'm shopping for a new business credit card, I'm wondering if there's a legal or tax downside to using a personal card as a business card like we did before forming an LLC. Just use it only for business and pay it ...