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Tax, SDIRAs & Cost Segregation

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Dave Pricken
  • Wholesaler
  • Wayne, NJ
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New Jersey Resident Doing Wholesale Deals in NY

Dave Pricken
  • Wholesaler
  • Wayne, NJ
Posted Dec 12 2019, 21:23

Hi, I have a wholesale deal closing in NY and I live in NJ. I created a NY LLC for my wholesale deals, but want to get the money back to an LLC that I have in NJ. Should I take the funds/profits from the wholesale deal to my NJ LLC and pay the out of state taxes, or should I take the funds/profits into my NY LLC and then have that LLC pay my NJ LLC?

Sorry, I'm kind of new at this. 

Thanks.          Dave

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