Brian Kennedy
Seller Won't Provide Financials
Trying to purchase a 12 unit but the owner says he can't give me the Financials because they are in his tax forms and it will cost $500 for his CPA to produce the data.Shouldn't the the books be separate from his pers...
Pat McQuillan
How to max out write offs for out-of-state investment property
Hi Everyone,I'm based in CA and will be buying an investment property in MA/NH/RI in the next 6 months. I will not be using an LLC and so will pay landlord insurance and be able to make deductions directly from my per...
Calum Bressington
Has Anyone converted a multimember llc to a sole member llc?
Wondering if anyone has converted their multimember LLC down to a sole member LLC and what the process is, all I have found on it is to fill out form 8832. Also, I won't do any buisness this year through my LLC so wi...
Saran Mandhadapu
HELP! Looking for a Tax Accountant in PA with Real Estate experie
Hi,I am looking for a Tax Accountant (CPA, EA) in Pennsylvannia with Real Estate Tax filing experience with reasonable fees to file LLC 1065 partnership and personal returns for 2017 tax year. I have 3 rental properti...
Jasmine Lu
Crowdfunding company with 1031 option?
Hey all, My husband and I are going to sell two of our rental units this year and we are thinking about doing our 1031 exchange for the first time. Based on what I learned about 1031, our replacement property should h...
Lamontis Gardner
Single Member LLC vs Multi Member
Me and my wife have set up an LLC, and while applying for the EIN I was prompted to switch to a multi member LLC. Being that it's just me and my wife, should this be an option for us or should we run it as a single me...
Troy Christnacht
Can I use my HELOC for private lending to another investor?
Can I use my HELOC for private lending to another investor? I've used it to build my rental portfolio and now I'm done with that. Now I'd like to use the HELOC to private lend to a local friend builder for spec hous...
Michael Seeker
Just finished a flip with a partner...now what?
A friend and I just finished a flip with pretty much a 50/50 split arms length agreement. Everything went fine, no arguments or problems.
The question(s) surround the taxing and distribution of funds. Both the hard...
Daniel Dietz
What are Passive Loss Limits in an LLC with multiple members?
Hello All, I have been reading up a lot on Passive Losses lately as we have been looking at some larger properties and considering using Cost Segregation along with that. These purchases would be through LLCs that var...
John McAuley
Active vs. Passive & Tax Consequences
Hey Everyone,This is the first year we will have rental property on our tax returns. I'm familiar with W2 income and income from our other businesses (LLCs). However, I'm not clear on the active vs. passive rules wh...