Just purchased a duplex as an owner occupier with me living in the basement and renting out the top two floors. Just got my taxes done and I'm confused on how I go about getting my rental income reported to the IRS
My main goal with the LLC is keeping commercial loans and debt off my personal credit report. With that in mind do I have to file any taxes if the LLC did not produce income? What if I started buying properties in th...
Hi Everyone, I am looking for accountants, lawyers and tax specialist to assist with cross border investing. I am a Canadian citizen and I have purchased properties in the US through a LLC. I wanted to know if anyone ...
I am a Canadian investor venturing into the US real estate market. I found from an accountant that even after setting up LLC in US and Canada, I will still be taxed by IRA at 50% and also that the time of a sale the R...
I friend of mine that flips houses told me that's all I have to do is get a free EIn and pay for my business license (which is only 25.00 in this state) in order to be considered an official business. She told I don't...
Hi, my wife and I live in Canada. She is buying her first property in the US to be a rental one. She will probably buy more 2 in the short term and thinking in doing more of it in the future.
Now the question is: what...
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Would like to hear your experience with Ohio rentals being in Texas. I am primarily trying to figure out the TAX and ENTITY implications:1. Can you use a Texas Series LLC name instead of your own name when buying in ...
Hey accountants or legal experts. I am trying to figure out something that is causing a barrier for growing my RE portfolio. Because of the fact that the income from my short term rentals require 2 years of returns b...
Hello BP community. In a few years I may move to Wisconsin from Minnesota to be closer to my wife's family. All my rentals are in Minnesota. Most are in my name and a few are in a LLC in my name. The LLC ones just "fl...