Chris Logan
Looking for some Clarification.
My wife & I own an Air B&B, and run it as an LLC in a non-communal property state. I just want to make sure we are doing this right. My understanding is we need to file a 1065 to generate K-1s. If we plan on f...
Mary Joe
Deleting applicant's file - dilemna
Hi All, I always delete the applicants files and personal info after I have denied the application. Would it come back and haunt me one day if someone files a complaint claiming that I unfairly reject his/her applica...
Spencer Liang
Maryland LLC Tax Help for a New Wholesaler!!!
Hi Everyone!I'm a pretty young and inexperienced investor. I've only completed one wholesale deal last year 2018 (I made $8,000) through an LLC I have. I'm trying to file my Maryland annual report before the due date ...
Jeff Johnson
Question about Probates
From my understanding, I can go to my courthouse and get a list of probates. But how from that list will I know if somone inherited a property? Also, will it say the person the house is being deeded to?Thanks
Beth Rook
Does each LLC have different EIN?
If you have an LLC for each property or for different businesses, does each LLC need to have a separate EIN? If so, how would taxes be filed? I understand a single member LLC files a personal tax return and that is ...
Wilson Pereira
LLC taxes on real estate income
My wife and I formed a WY LLC that is an asset holding LLC and a member of two other LLCs, one in NC and the other in FL. My wife and I are the only members of the WY LLC. I have rental income for the NC and FL LLCs. ...
Mary Jay
Each LLC (entity) files its own tax return
Hi guys,Can anybody explain to me please this...Ive heard from one RE investor, who owns about 300 properties, that his accountant files a separate tax return for each LLC/trust, etc (if I understood him correctly)......
James Boreno
URGENT: 1031 Exchange Questions
Hello,
Currently in a 1031 Exchange and have a few questions.
We sold this property last week and we are currently in a 1031-exchange. We are trying to figure out how we can hold title to the new property. Our 103...
Account Closed
TX DBA filing at State vs County
My question is specific to Texas since I assume the answer may differ from state to state. However, I would be interested how other states handle this as well.
I understand that a DBA can be filed at the State level ...
Cheree Harris
Tax Question for Rentals
Applied and was approved for a guidance line of credit in my personal name before starting a real estate business with another party. Closing on the home next week but payments will be made to lender from company acco...