Looking for CPA and RE attorney in SoCal

3 Replies

Hello,

I recently purchased a home in Big Bear, Ca, partnering with my brother-in-law.

We have been using our personal accounts to fund everything from furniture to construction costs.

In the middle of the project, we opened a business account, which we both deposited money into.

Now, we are trying to figure out the way forward for tax purposes and for holding the legal title of that property.

1. We take it as a TIC and share the tax benefits.

2. We deed it over to an LLC and share ownership rights of that company.

Any recommendations or input will help.

You'll probably want to consult with the professionals on this one. There are various tax and legal implications both ways. 

For the tax part, you can open yourself to a wider range of CPA's by looking for remote CPA's that specialize in real estate. There are several on these forums that work with investors in all states.