Kate Ellis
LLC Taxed as an S-corp for flipping
We just set up our LLC in Illinois to flip houses. I'm preparing to file for our EIN with the IRS and need to decide if we want to be taxed as an S-corp or partnership. I'm all for S-corp except for the requirement ...
Account Closed
Questions on Real Estate Tax Strategy or Investing
As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and han...
Cari Bunce
Help me choose a foreclosure system
Lots of choices! I went to a few seminars recently where they tried to sell me coaching, websites, crm and autoresponders. One was like $3,000+
So I used google to look for something and have narrowed it down to a fe...
Karisa M.
Commercial Lease Assignment
Restaurant tenant wants to sell its business and assign its lease to a person living in a different city. Is the potential new tenant's physical location a valid reason for the landlord to reject the assignment?
Kevin Durham
Can private school be a business expense?
Hey all, the more I learn the more I realize I know nothing! On my 3rd flip thanks to the help of this site. So, thank you for any reply!My daughter is now attending private school - 7th grade, and to my knowledge, in...
Don Konipol
Why Most Partnerships Don’t Work, and the Few that Do
Most partnerships DON’T work because the partners go into the partnership for the WRONG reasons. Partnering between two people both with no or limited experience; both with no or limited capital, or because they’re “...
Jason K.
who finances bare commercial land?
Tried owner finance and the terms were crummy.
Tried wells fargo and they want me to take a construction loan as well.
Are there reasonable options to finance a commercial lot? I plan to use some cash I have saved t...
Evan Boychan
First Purchase, Personal Credit or LLC
Hello! I am a new investor looking for my first deal in the Ann Arbor area. I'm primarily looking at single family homes, condos, and off market opportunities. I'm curious what metrics people use to decide whether to ...
Justin Van Riper
Self-employment tax
Can you get out of paying self-employment tax if you wholesale full-time? Also, what if this is not the only aspect of your business (also own rentals)?
Kevin S.
LLC and spouse.
Hi everyone, I am about to create my first (Florida) LLC. My first investment property will be a SFR and loan will be on my name only (income reason). I was told by one lender that the property has to close on my na...