Cj Yu
Is an Ohio LLC renting houses in Penn required to file tax with Penn?
From this site, it looks small LLC does not need to file sate tax:https://www.dos.pa.gov/BusinessCharities/Business/Resources/Pages/Foreign-Limited-Liability-Partnership.aspx"Under the U.S. Supreme Court's Wayfair dec...
Jason Kim
Setting Up LLC Under Different State
Hello BP Meembers,
I am currently in the process of setting up my LLC and my CPA told me to set it up under a different state LLC because it's much cheaper. I live in Chicago and he said that it costs around $500 to...
Kate Ellis
LLC Taxed as an S-corp for flipping
We just set up our LLC in Illinois to flip houses. I'm preparing to file for our EIN with the IRS and need to decide if we want to be taxed as an S-corp or partnership. I'm all for S-corp except for the requirement ...
Nina W.
Dual citizen residing in Canada doing 1031 exchange in US
Hi! My husband and I area dual Canadian/US citizens residing in Canada. We are interested in purchasing property in the US in order to later upgrade and benefit from a 1031 exchange. I read that as dual citizens we no...
Alan Howard
Is it best as an LLC to be taxed as a partnership or s corp?
Hi BP family, what is the best taxation status for an LLC with 2 members, s-Corp or partnership?
Account Closed
Wholesaling and taxes
So I'm just getting started and I haven't bought any courses or anything, but I'm still learning. Are wholesalers considered independent contractors, or do you form some sort of entity ( LLC, Limited Partnership, Corp...
Ricardo G.
llc , gp, or c-corp??? I'll start flipping houses with 3 other partners what's the best way to set this up?
we will be equal partners all initially investing the same amount of money. I was thinking of going the GP route since we will all be managing the daily operations of the business in one way or another. but I woul...
Jim Murphy
Few Questions
Ok so my divorce is near done and I have about $ 100,000 after the agreement Nd I have selected the area that I wish to start investing in . I have read and listened to the weekend millionaire program which advocates...
Bill Pollnow
Roll over Business Start up - 401K funded
I recently left a job of 18 years and have an existing 401K. I am considering/wanting to take these funds out/use them for real estate purposes and have recently came across a company/recommended by my attorney/that s...
Joshua Dorkin
LLC Frequently Asked Questions
I thought we'd start an FAQ for people interested in learning about LLCs. We'll share important posts and blog articles about these structures here. If there is an article or thread you think worth adding, please po...