Maria Paredes
Rental Property to LLC
HelloMy husband and I transferred a rental property that we have owned for 10 years into an LLC, transfer occured on Jan 1st, how does the transfer show in my personal taxes. We want to file a 1065 for the LLC, know ...
Kyle Beauchamp
Need a review of single member LLC operating agreement
I recently registered a single member LLC in Kansas. I got an EIN from the IRS. I opened a business checking account. I have the first property under contract. The title company is asking for an operating agreement. I...
John Blanton
Risk Factors of being a KP (Key Principal)?
Outside of the carve outs in loans (fraud, etc), for non-recourse debt what other risk factors are there for a KP?
Account Closed
California Rental Home, non-resident, CA State Tax implications?
Hi all,Considering buying/renting a secondary home in California. Idea is to be a short/long term rental property and a place for family to stay (in between the short/long term guests) and eventually use it as a retir...
Thomas Parrott
LLC question
ive been reading some stuff, and i just want to make sure im not wrong about this-
but is one of the primary reasons of forming a LLC protection from being sued? Are there a lot more benefits aside from that, im not ...
Tesfa Nicome
My seller hasn’t filed taxes on her LLC for 15 years
My seller has a property established in an LLC she hasn’t filed taxes for in 15 years. I called tax office and they informed me approximately 5,000 is owed to get the LLC in good standing.
Which I’m assuming will pr...
Brian Larson
BRRRR Calculator/Analyzer
I am not sure if this is the right place or not but I have recently bene going at the BRRR strategy exclusively and have build a spreadsheet that lets me quickly analyze a deal that comes across my inbox. I hope this ...
Andrew Pappas
LLCs, asset protection, and taxes for rental properties
I've read a lot about the asset protection plan of buying a property in your personal name with conventional financing, then quit claim the property into their LLC. My property manager told me he's seen people do thi...
David Zuber
LLC for Money Seperation?
Hi Everyone,I am about to close on my first rental property in a about a month. My business partner and I have been discussing getting an LLC and opening a bank account under the LLC in order to keep our personal fina...
Harita Konjeti
Tenant did not pay this months rent and says vacating by end of month, breaking lease
Tenant did not pay rent for March. I sent a 3 day notice. The tenant texts me that she is vacating by end of this month. Lease ends in September. She is breaking lease. What options do I have?