Farid Moaveni
Do you have to pay taxes when refinancing a home after rehabbing?
Hello,Does anyone know if you must pay tax on the “income” earned after refinancing a home you recently rehabbed? If I invest total cost of 80k in a home, get it refinanced at 120k and get 70% of that to invest in ano...
Danielle D.
Do I have to be taxed as an SCorp?
Hi All,My CPA is advising that I have my LLC be taxed as an SCorp because I'm an active participant in my fix and flips. To clarify, I have a multiple member LLC (me and my husband). In that LLC, I make some private...
Taylor Tindal
Joint Venture: Should we form an LLC
Hello,I'm interested in partnering on a deal with 3 individuals. In order to do this should we all create an LLC together for this one deal? Or will our individual businesses protect us? (One person is not protected b...
La T.
Business liability coverage for an LLC
Hello,Can someone share information on Business liability coverage for an LLC created to hold investment properties?Does the insurance need a 'person' on the policy or can the policy be in the name of the LLC?Is there...
Carlos S.
Quitclaim question
Property was quick claimed a few years ago to a corporation "ABC company" ,"John" and "Jimmy" owns the corporation 50/50 ...Now property will be Quick claimed to "Mike".....In the Quick claim who is the Grantor?
1- A...
Ray Slack
Question about Max employer contribution on solo 401k
3 quick questions. I setup a solo 401k and wanted to confirm something. I am personally listed as the employer and employee. I know I can contribution $18k as the employee and 25% of income as the employer. Ques...
Matt Willis
Income Tax on New York State LLC?
I'm looking at purchasing some sfr or small multi families in the western New York area. Does anyone know the income tax rate an LLC would pay in New York State? Besides being able to write off expenses, and deprecia...
Steven Tawresey
Personal Guarantee for LLC - Asset Protection?
So I understand LLCs. I'm not looking for a lesson on the benefits. I am 1 fax away from having an attorney set up my multi-member entity, Operating Agreement, etc.I also understand the reasons why banks don't like le...
Carlos Yoneliunas
Time to Make a Business: LLP vs Corperation
I'm buying three rentals in wetaskiwin, I just realized i should look into incorporating or LLP's. after this I will have a total of 4 properties and 5 doors. I was curious on what might be the best methold of structu...
Todd Willhoite
Solo 401k unavailable if have any business with employees?
I have a business with no employees for which I want to establish a solo 401k. I have another unrelated business with one full time employee. My wife has a business with four full time employees. Under the Controll...