Nick Hulme
Which state gets to take my money?
Hypothetical: I live in California, I have an LLC in Wyoming, and I buy long-term rental properties under that LLC in Utah.Which state collects income tax on the cash flow?If I were to sell a property, which state c...
Kay Kim
Can I use my RE ivestment LLC for my realtor business as well?
Hello, BP families,I do have a multi-member LLC for RE investment properties. Now that I am starting a REALTOR business, can I use the LLC for my realtor business?
Dev P.
Rent vs Sell Advice Needed Urgently
Seeking guidance regarding a property in terms of rent vs sell. Current market value is $900,000, purchase price was $880,000 2 years ago. After selling with fee's, take away would be $855K (900k-45K). All in costs ar...
Ted Sung
California LLC setup for expenses?
Hi All,
I've been pondering about this so I thought I query the forum.
I'm a newbie investor and so far I have not purchased a property yet. However, I've been looking, researching, etc.
I'm wondering if it's feasi...
Connor Mather
Bookkeeping advice and suggestions
Hi Everyone,
I am outgrowing my current bookkeeper and am in search of one with significant knowledge in REI. I have found a few virtual bookkeeping options online and was wondering if these are ok or if I should ste...
Daniel Newman
Single Member LLC vs S Corp?
Hey everyone,I have a RE wholesaling company (LLC) with a partner that's owned by his entity and my single member LLC. We distribute profits from the wholesaling company to our individual entities (his entity and my s...
Scott Anderson
Should I hire a tax advisor? first time filing taxes with an LLC
Last year I began investing in real estate and will need to file taxes for 2019. I have an LLC with 2 single family homes that were both purchased in 2019 and used as buy-and-hold rental properties. Since this will be...
Nathan Gesner
Hiring children for tax savings
I'm just learning about hiring my children and the tax benefits. I think I understand how to do it, but am confused on one point. I'm reading online that we can hire a child up to the age of 22 but my CPA said 18. Can...
Brad Cornell
Off Market Purchase Agreement Help
Hey BP!So I have a verbal agreement on a 25 unit portfolio and I need to get it under contract. My question is this: is it best practice to have an attorney draft one up for me or is it better to be represented by a ...
Hunter Motto
New to BP and looking for an accountant!
I'm new to BiggerPockets community and excited to participate. I currently own 2 SFRs and (soon to be) 2 small multi-family buildings with a partner in Tacoma and Bellingham, WA (two secondary markets outside of Seatt...