Bruce C.
Rental Accounting Question
Good morning BP
Im attempting to keep accounting for our first SFH rental. We acquired the property oct 6th and have performed some repairs. The problem im having is the money we leveraged for property purchase and r...
Bernie Tobin
Series LLC - Michigan
My business partner and I are structuring our new business here in Michigan. I've listened to the podcast on limiting liability, which was awesome, but I have a couple questions.Is it possible to set up a series LLC ...
Account Closed
Big refund or owe a little
As a tax return preparer, I run across people that deliberately have more withheld during the year than necessary as a kind of forced savings. Others that initially work at owing nothing or paying a little at year's ...
Chris Presnell
How to Deed a Property to Satisfy Bank and LLC??
Hi All,After being involved in purchasing approximately 12 SFR over the past 10 years, and listening to hundreds of real estate podcasts, there is one question I have never heard addressed in any detail. I'm hoping t...
Lane Kawaoka
Takeaways from the list of 2018 Tax changes:
1) Standard deduction and personal exemption combined and seems like everyone is getting more... so its a wash IMHO.2) Less deductions for those who don't have a business like real estate investments. Sigh... it just ...
Dana N.
Filing Taxes with my LLC
Hi BP,Help!!! My tax person is saying I need to file for an extension. We have an LLC and I'm under the impression you file with your 1040 and have until 4/15/15.Does an LLC have to select an S or C Corp when filing ...
Rick Bassett
Arms length transaction question
I am setting up a LLC for property management. The LLC will manage my properties, which are single member LLC's as well as well as properties for other owners.
My plan is to have my property management LLC collect a ...
Cory Land
Flipping through LLC taxes
I am having trouble finding article which discuss how taxes are handled when flipping properties under an LLC. If you could share an article or help with the below scenario, that would be greatly appreciated.
Our LLC ...
David J.
Do you trust tax returns? - need advice
Working on buying a 20 unit apartment building. I thought all the numbers made sense on my detailed pro-forma estimates. It was hard to lose with this thing. A cash flow beast! ... then I see last 4 years of owner tax...
Julie Groth
Form 8825 the correct one for STR income?
I know STR income is treated as active by IRS (like a hotel) and I have S Corp. My accountant used form 8825 (rental real estate income for S Corp). Is this correct? I would have thought it should appear in a differen...