Travis Buck
Possibility of being audited??
I have owned rentals for 4 years now. I never took the depreciation!!! If I go back and amend my tax returns for 2014, 2015, 2016 would that EXPOSE me more to an audit? I stand to get back an additional $2,000 per ye...
Ann Bellamy
Anyone dealt with fundmygap?
I received a call the other day from fundmygap.com, they were seeking gap funding referral opportunities. In the course our conversation, I asked them who else they were doing business with in my area. He mumbled...
Eric Williams
Disregarded Entity Qualification: Married Couple in Community Property State
Rev. Proc. 2002-69I found this guidance and thought I would provide a summary:It was issued to remove uncertainty surrounding treatment of an entity owned solely by a husband and wife in a community property state.Ess...
Jordan Alexander
LLCs - One or Multiple?
Good morning,I'm looking to get advice on LLCs. Is it better to have all rental properties in one LLC or have an LLC for each property? I understand having multiple LLCs can be challenging but I think it would be help...
Account Closed
April 15th is 10 days away! Why Filing an extension is NOT the end of the world.
Tax season is in full swing, and for most individual taxpayers, the looming deadline for filing and payment is Monday, April 18, 2022. However, life can get complicated, and if you find yourself needing more time to g...
Jamie Brasseal
Personal Guarantee from Borrower
In addition to a Cognovit Promissory Note, I have a Personal Guarantee from a borrower who has defaulted on a loan. I have already initiated foreclosure proceedings.
Does anyone have experience using a Personal Guar...
Ethan Hamilton
Cost of Series LLC in Houston, TX
I just purchased 2 Houston, TX properties and intend to place them in Series LLC's. I was informed by a recommended lawyer that I cannot quitclaim the deed, but that instead Special Warranty Deeds are used. He seeme...
Yacoub Alghanimi
Leads: Preforeclosure List
Hello Everyone,I am getting started into Real Estate specifically into wholesaling. I am trying to get preforeclosure leads and according to everything I read, it always says contact your local county. I contacted my ...
Nicholas Spohn
How much to pay a CPA for small biz
So what is reasonable to pay a CPA for a small (4 property) investment business? My CPA last year was TERRIBLE and this year I met with someone at McGladrey who seemed very professional and knowledgable but said fi...
Sandy Uhlmann
NP second in Kansas: Cross Claim or answer out of time?
I have a NP second in KS. Currently there is equity in this home. According to Netronline, the first has initiated FC (in April) but now, according to court info the case is "on hold for loss mitigation" I contacte...