Need a new accountant. Kansas LLC with Kansas and Iowa property

4 Replies

Looking for an accountant to do our LLC taxes.
We were just informed by our California accountant that he can't help with our Kansas LLC. We wish we were informed sooner as we are now in a hurry. 
We have 2 properties, both purchased in 2017. A duplex in Wichita KS and a house on contract in Iowa. 
The two partners are in LA and Des Moines, IA but we are happy working remotely. 

Johnson Duncan and Hollowell did mine. Cost was $425.

@Tim Watkins

You're looking for someone to do the LLC return only? Or your personal return as well? If you're managing from California, your KS LLC may be subject to tax in California as well as the Franchise Tax Board takes a broad interpretation of "doing business" in CA. I see you're in the L.A. area -- you can try reaching out to @Logan Allec who is well-versed in a lot of real estate tax and accounting.  He might be really busy right now but he is likely a good reference for you.

@Tim Watkins Don’t get an LLC from those states, you will be filing and paying too much. File your LLC in CA and them domesticate them in those states. Or have one of them domesticate in CA and other states. Remember if you are a CA resident, you will still have to file and pay $800 minimum to FTB.

https://www.realestatelanduseandenvironmentallaw.com/is-your-out-of-state-llc-doing-business-in-california.html

So if you have an LLC in KS and LLC in IA, plus your LLC in CA, then you will pay 3x$800. Remember the $800 is for EACH and EVERY LLC.

My suggestion is CA LLC makes/applies foreign qualification (i call it domestication) to states of KS “and” IA.

Getting an accountant out of state is not such a good move as they are MAY BE not that well versed on CA tax law.

You need to change accountants. Check @Logan Allec .

@Katie Lepore and @Manolo D. thanks for the tags!  @Tim Watkins , it sounds like you have a 2-person LLC, and assuming you did not elect to be treated as a corporation, it will be treated as a partnership for tax purposes. Did your previous accountant extend the partnership return? I hope so since the deadline was March 15!

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