i opened my corp in July and wasn't able to take a wage as  the corp made like 6-8k can i just take a distribution, what would you recommend i do?

Hello BP!!!I am very excited to finally come out and introduce myself here. After lurking in the shadows over the summer reading books, analyzing deals and listening to all of the podcasts, I am ready to dive in. My g...

I was reading about and researching this over and over again, books, IRS pubs, here, elsewhere. I cannot get a conclusive answer even in forums with seasoned CPAs debating this topic.

That much is clear:
- If you hav...

I used a CPA for the first time and just got my bill $1200. I am a W2 and have LLC with 2 properties that I've kept good records for. My return was only for $1,200...

I learned of this deduction at a real estate training. It may be common knowledge to you all, but I mentioned it to my accountant and she had never heard of it. Let me know what you think!Rather than using the "home-o...

Hello Everyone,I was wonder what type of structure is best for collecting rent on a mortgaged property that’s under my personal name. I know about transferring it into an LLC but I don’t want to trigger a “due on sale...

My wife and I have a mmllc for a duplex in iowa. Would my planned buisness trip qualify for tax reasons. We are trying to go to hawaii this coming May for a ten day trip. Would my plan qualify a buisness expence regua...

Did you know that you can increase your cash flow simply by utilizing accelerated depreciation of your real estate property? By accelerating your depreciation schedules, you reduce your taxable income which in turn in...

As first time investor how does one conduct effective due diligence and cover ones basis?. What material should be asked or checked and verified?.

This is a follow-up to my recent post about IRA audit myths. In this long sequel, I will discuss hiring audit and "IRS audit insurance."
1. DIY IRS audits.
Can you defend yourself against an IRS audit without hired ...