Mehran K.
Single Owner Deeding Property to Two-Member LLC - Tax Implications?
Hi all! Quick question again. Tried searching on this specific topic and couldn't find anything.If a single individual person deeds an income property they just acquired to a two-member LLC which they are a member of,...
Andrew Pettit
An LLC Liability question on which I need clarification
Good evening everyone, I just have a question about my LLC. What the personal liability of the LLC are, for persons not contributing to the LLC; none right? Even those these people contribute "sweat equity, bu...
Yi Chu
Business Checking Account
When you open a business checking account, you have to transfer a certain amount of money to the business account to avoid monthly fee. Let's say $500. This comes from your personal account, not from business operatio...
Jeanne Choi
Need help with backdoor options
Background: I am a newbie that just found out about the concept of backdoor Roth from a friend. I’m trying to get as much money as possible into a self-directed Roth 401k as soon as possible for an investment opport...
Charles Allen
LLC taxed as S Corp - 401(k) maximization
So as my understanding goes, the IRS does not know what "LLC" means. It understands Sole Proprietor, Partnership, and S-Corp, but not LLC. One of the interesting options is to take an LLC and ask the IRS to tax it as ...
Elliot Marszalek
FIRE ratio with unrealized expenses.
According to the FIRE ratio I'm extremely close to 100% but then I have to consider things such as insurance when I no longer have an employer and it pushes that percentage back quite a bit. I'm wondering if there's a...
Zane Abner
Self-Directed IRA
Good morning,I had a real estate investor friend, that is also new to real estate investing, mention that a self-directed 401k or IRA can be helpful for tax purposes. I am looking for assistance in finding correct/hel...
Darrell Bazemore
Infinite Banking? Do or Don’t
Hey there, I’ve recently come across this concept and after doing light research I cant seem to find anything wrong with this personal finance system thus far. I got a quote to see what the cash value is year 1 and it...
Tammy Wise
Retirement/savings alternative to 401k?
I listened to a podcast the other day and unfortunately I can't remember the gentleman's name or podcast number..ugh. I have been knocking a few off each day. He was talking about retirement and that we should not con...
Jackie Lange
Examples of Creative Transactioneering
Today I posted anarticle by Jack Miller on my blog that I thought many at BP would benefit from. You'll learn some ways to take creative real estate to the next level. Remember, every deal needs to have a purpose. ...