Mark S.
SMLLC Tax Extension Deadline
If someone files an extension and has a single member LLC (SMLLC), is the LLC’s extension due date 9/15 (or 9/16 this year) or 10/15?Even though in most cases it’s a disregarded entity for tax purposes, in Kentucky we...
Michael Plaks
July 15 - the SEVEN tax deadlines
First, the good news. Due to Covid-19, they are letting the inmates out, so you're unlikely to end up in a Federal prison for tax non-compliance.
The less exciting news is that this July 15, formerly known as April ...
Martin Guerrero
Doing deals with Partners for first time
Hello fellow investors. I am about to embark in my first JV with 2 or 3 other investors. We are all associates and there is relationship and trust. I brought the deal together and everyone together and everyone is ...
Nick Naik
New S Corp tax filing state(Georgia) and federal requirements
Gurus,
Need some advice on year end tax filing for S Corp based out of Georgia. I have a new LLC structured as S Corp and need to file my year end taxes. Couple of questions1. Is Turbotax Business a recommended tool ...
Chelsea Ross
CPA hasn't filed 2019 taxes. Anything I can do?
In 2019 I decided to start using a CPA that specialized in REI to help me with tax planning. The CPA was actually recommended on the BP forums. I paid in late 2019, and handed over my documents in March 2020. Despite...
Nathan Letourneau
LLC filing S-Corp election for taxes
I've operated my business as a straight single member LLC for the last 10+ years. This year (2016) my income was much higher and I figured it might be useful to looking into the S-corp designation with the IRS. Wha...
Sante R.
Does anyone have any information on Landlords using 1099-C form?
Since it's so hard to collect from tenants who owe, or in some cases not really worth trying to collect, I would like to know more on being able to use the 1099-C "cancellation of debt" form. All responses appreciated
Sean O'Keefe
BOI Report deadline and the enforcement of penalties are back as of 12/31/2024
I wrote this post a few weeks ago, below, warning real estate investors, with entites (e.g. LLC, S-Corp, etc), to file their BOI Reports by the end of the year to avoid being penalized up to $10,000 per entity. I also...
Matthew Hicks
negligent accountant
Hi everyone,We hired an accountant at the end of 2014 to do our books, business taxes, and personal taxes. Our personal taxes have been done for some time and luckily we are owed money. however our book keeping has ...
Account Closed
Advice on excess 2019 contributions to Roth IRA
Hello all.As I was preparing my tax returns, I realized my 2019 AGI exceeds the IRS income limits for full contributions to a Roth IRA, which carries a 6% penalty for every year the excess along with its corresponding...