Travis Rush
Sole Proprietor or Partnership for a Married Couple?
Hello everyone, my wife and I are just starting out and we were hoping for some guidance on an issue.
Basically we are trying to fill out a W-9 and aren't sure if we should be a "sole proprietor" or a "partnership." ...
Jason SanMartin
Thinking Ahead: Wholesaling and Taxes
Before I get started into real estate, I'd like to know what I'm getting myself into. As of right now and until I'm able to make money wholesaling, I'll be a sole proprietor. At what point do I or should I consider re...
Jay Lam
W9 for Property Manager
Hello,My property manager is asking us fill out a W-9. If our rental is owned in my spouse and I's name, do file as a sole proprietor or partnership? Also can we use an EIN rather than one of our SS numbers? Thank you!
Kade Hawkins
Spousal solo 401k salary deferral deposit deadlines
Spousal solo 401k salary deferral deposit deadlines - different than profit share deadline?I am the sole proprietor and my wife is my employee. As the sole proprietor I understand my deadlines for making my contribut...
Stephanie H.
business checking & EIN number / Management software
I am not sure if I am posting this under the correct category but hopefully someone can help. I currently have a few properties and act as the property manager. I run them as a Sole Proprietor but I keep all my banki...
Wesley Appleget
Collecting rent through LLC while claiming depreciation personall
Hi Everyone, I just bought my primary residence and am planning on renting it out. I am the sole proprietor of my LLC and would like to be able to collect rent money through my LLC so that it is profitable and I can u...
Leland Dunn
New Tax Law and rentals
With the new tax law going in effect in 2018 it seems nobody knows the specifics of how all this will play out, including the IRS. I did find an article that states:You qualify for an income tax deduction equal to 20%...
David Rosen
Do I send 1099-NEC to property manager if they use AppFolio for accounting?
Hi all,I use a PM who is a sole proprietor LLC who I paid more than $600 to in 2023. They use AppFolio for the rent collection, disbursements, and accounting. The tenants pay through AppFolio and I am disbursed the re...
Susan Devine
Applying 4 Biz Credit Cards best type of Corp structure
Hi,
I have been self employed as a sole proprietor my whole life. Looking to use business credit cards as a way of keeping any debt off my personal credit and of course hopefully increasing the amount of capital I ma...
Susan Devine
Biz credit cards Best Corp Structure
Hi,
I have been self employed as a sole proprietor my whole life. Looking to use business credit cards as a way of keeping any debt off my personal credit and of course hopefully increasing the amount of capital I ma...