Rachel Campagnolo
Title transfer rules in 1031 exchange
We are selling a CA investment property (single family) this summer, and plan to do a 1031 exchange into several other like investment properties. Question is, if the title is in an LLC in CA, what happens to that L...
Carlos Alger
First year LLC, losses and no income. How to file?
Hello, I am hoping a CPA in the group can help me understand this as we are gearing up for taxes and I need some advice so I can make an informed decision. Our LLC files as a S-Corp. Normally if the business is profit...
Chelsea Ross
Tax Consult Needed for Flip Closing on Tuesday!
I am closing (selling) my first flip on Tuesday. I purchased the SC property though a NC based LLC. The closing attorney sent me a SC Transferor Affidavit Tax Lien Inapplicable form to fill out, for which I must eithe...
John Pless
Rent Section 1031 Exchanged Property to Self
I have read that if you charge reasonable rental and treat the tenant as you would any other tenant, you can possibly rent a property you exchanged into to a relative. Could you rent the property to yourself? I have s...
Todd Michael
Reporting 1090-INT income on 1040 for single member LLC
In 2014 I created a single member LLC for the sole purpose of using to invest in crowdfunding opportunities. Since its a single member LLC and for tax purposes is classified as a sole proprietorship LLC, all revenue...
Dee M.
Cash out on rentals/tax treatment
Hi Everyone,I'm hoping someone can help me clarify this question;I own several rentals in Denver (free and clear). I want to pull some cash out and buy more rentals,(seems to make sense at these historically low rate...
Mika'ele' Keni'
CA Annual Franchise Tax for multiple out of state LLC's set-up
I browsed several posts about taxation on out of state LLC's set-upsin CA, but didn'tt find the exact answer I was looking for...Can someone shed some insight?How does the CA Franchise tax board view ownership of mult...
Mel Cosio
Convert from multi member LLC to single member LLC
I need to convert my multi-member LLC to a single-member LLC, is IRS form 8832 all I need?Appreciate responses, thank you.
Ming O.
Combining rental and other businesses into SCorp
I'm self-employed as a graphic designer and am doing business as a partnership (my husband being the partner).
Since we are already paying the $800 a year for filing as a partnership and I've been told by my CPA tha...
Bart Lucas
Type of LLC
I currently own two SFR as long term rentals that were bought under mine and my wife's names. I am looking at starting a LLC both am confused with a member managed or a manager managed. My CPA says a single member LLC...