Ben A
Husband and wife in LLC
Hello folks, I got a question for Tax and entity experts. My wife and I are planning to establish an entity for a new business. This is an active business (not rental) but we decided for LLC due its simplicity in st...
Rich Weese
obama says we're doing great! Why don't I feel all warm and fuzzy then?
Obama sounded almost giddy on how well the country is doing. The stated unemployment rate only ROSE to 9.9%. HOORAY! (however, when you include EVERYTHING in that category, it is 17.4%, almpost a record high)He says t...
Account Closed
Become the HOA
Hello BP, i had mention before that i will be targeting condo due to the country i plan to invest in so there is actually very little option if i want to do a syndication. I read the many bad things about condos espec...
Will Wu
How to 1031 portfolio of several properties owned by multiples LLC?
If someone has 20 multi families buildings (around 100 apartments) that are currently held on several LLC's. How can he 1031 to other properties? Since those LLC's are all independent entities and each building has it...
John Hole
De Minimis Safe Harbor or Safe Harbor for Small Taxpayers
I just replaced a refrigerator in my rental last year. The cost of the fridge was more than the $2500 ( $2499 + tax + shipping). Assuming that it is the only expense I have for my rental, can I expense the cost of t...
Michael Plaks
Syndication losses against active income
Posting my response to a client's question, in order to get my colleagues input on this issue.Q: I have an investor who is actively investing in real estate on their own & have no f/t job. So spending enough time ...
Lloyd Segal
Economic Update (Labor Day Edition)
Economic Update
(Labor Day Edition)
This crazy bizarre year will undoubtedly be remembered as one of the most challenging times of our lives. A worldwide pandemic, social distancing, facemasks, a recession, histori...
Tom Bjork
The Obama Effect
Currently, Obama's financial advisors have stated that the high end tax bracket will go up to 39+%. Does anyone think this high end tax bracket might go up to 50%+ or more?
Tyler Carpenter
LLC
I went onto my secretary of state website and looked at forming an LLC and it was $600. Is this about normal? Are there any sites you have had that you would recommend to be better or cheaper?
Derek Wheeler
Quickbooks, CPA, or Both For Taxes
My wife and I are realty agents, and we are in our first year. Up until now, we have been employed by companies that provided W-2s. I am doing what I can to keep track of our finances and tax obligations, but we are l...