Saaj Patel
Accountant to Maximize Deductions for "House Hacking"
Hey BP,
Long-time lurker, first-time poster.
I am located in the Philadelphia area and looking for an accountant for my 2021 filing. I bought my first 4-plex apartment in Philadelphia around October. I am curre...
Natalie Lee
Business banking account recommendations: credit union or bank?
Hi, we live in Northern California and are investing in Phoenix. Which bank do you recommend setting up our business banking account for the rental properties with? We could go with the big banks like Chase or Bank of...
Tyler Bond
House Hacking a Rental
Hi all...the description says a quick summary but right now my wife and I are renting a house from a couple in their 80's. They agreed that it would be ok for us to bring in some friends/roommates as long as we don't ...
Selina Gruden
Interest deductable for cash out refinance
HI Real Estate friendly CPAs, I have a question regarding to interest expense deductible for cash out refinance.We did a cash out refinance for our primary residence in Nov, 2021, loan proceed is $755k. Paid off the ...
Gregory Patrick Strake
Transferring LP interest to Personal interest - Tax Liability
Hello BP - I have a question... Currently, I am invested in a new development syndication as an LP. The funds were invested from my LLC. Recently, we hired a CPA who advised us to invest from our personal account sole...
Orlando Morgan
Rolling over money from LLC to home accout
I do a home business return (1040) and am taxed on all money made in my LLC. Even though I pay on all 2016 earnings am I required to roll all money earned that year from the LLC to my home account at the end of the y...
Aimee B.
transfer rehab expenses into LLC?
New investors here. We purchased a flip in our own name with cash. Have been paying for rehab costs out of our own personal account. I now have a newly opened LLC w/ tax ID and associated bank account, but haven't tra...
Herman Homes
Transfer Home with Person Mortgage to Multi-Member LLC
Hello, I would like to purchase rental property with a business partner and ultimately house it in a multi-member 50/50 LLC. We realize we won't be able to finance the house through the LLC directly, but it seems pret...
Jeff D.
Owning Residential RE in Your Name for Financing Purposes
Hi everyone and thanks for taking your time to help me with my question.I am familiar with commercial properties and the advantages of an LLC formation, however I have recently thought about entering another market an...
Corlis Simmons
How to handle tenant payments
I live in Ga and I recently decided to rent my home. I created an LLC and I will open a business account for the LLC. I am new to this and I have a few questions:
1. Should the tenant make payments to the LLC
2. S...