Hi Guys! So it's my first year filing my taxes for my multi-member LLC's. I filed my business taxes first which generated my schedule K1's for my partner and I. I show a dollar amount in section 3 (Partner’s Share of ...

Hi all,

A big advantage of real estate is that it can be a large tax writeoff. The "depreciation" and mortgage interest writeoffs can save quite a bit.

If I invest in say mexican or canadian real estate will I lose ...

Aloha everyone!  I hope all are doing well during these unprecedented times.  I'm looking for quick tax advice on how to file my couple flips and really appreciate your time and knowledge!
General info: I purchased t...

I’m trying to understand how to structure a 2 person partnership.Money and profit is split 50/50.But the loan will be in my name. We’re doing the first few purchases with an Operating Agreement only.Does anyone see an...

I have owned a LLC partnership for 6 years in Maryland that owns rental properties and filed tax returns.  If I convert it back to a sole owner pass-through LLC will it spark an audit?Also, can I set it up so that my ...

Hi Their,We have a property with an extra dwelling on it that we have rented long term for about 6 years.  We are considering making it a short term rental instead.Are taxes more favorable for long term or short term ...

hello allMy husband and I are closing on a property this week. We want to close in an LLC we just created. My question is, when i go to create the EIN number, the IRS wants to automatically make us a partnership. My a...

I normally do my own taxes and report my rentals. However, I recently sold a rental property and decided to have my taxes done by a tax service company. After reviewing my taxes, I don't see anything being reported on...

My DST sponser made a mistake on the expense amount (off by a factor of 8!) on my Schedule E from 2017 and this year corrected it by adding the missing expense to the 2018 Schedule E.  The amount is not trivial and ca...

My wife and I are the sole proprietors of the business that that sponsors our solo 401k (unincorporated sole proprietorship).  That business will probably make a total of $30K in 2018.  I understand that this calculat...