Entity Structure Questions & Answers (Part 2)
Thursday, June 16
This is the second of a four-part series of Questions and Answers related to entity structuring. QUESTION: A few years ago I entered into a partnership with my brother and a couple of friends. We purchased a single-family house to rent out. We (over)paid around $127,000 for the house. The propert...
Entity Structure Questions & Answers (Part 1)
Friday, June 10
Selecting the right entity structure for your real estate deal can mean the difference between building and losing incredible wealth. It’s vitally important to incorporate correctly to protect yourself, your assets, and your wealth. I get a lot of questions about entity structuring, particularly ...
The Importance of Entity Structures and Recordkeeping
Thursday, May 19
If you don’t plan accordingly for your investing goals and choose the correct entity structure, the taxes will definitely hurt your bottom line in a big way. As a real estate investor, you need to stay updated on which entities are on the IRS hit list. Recordkeeping also plays a big part in wealt...
What You Need to Know About the Compliance Side of Entity Structuring
Thursday, May 12
Investors typically have lots of questions regarding the compliance side of entity structuring. There are many things to consider such as states to register, tax filings, and what a properly set up business looks like. In this article, we will examine all the different aspects of compliance when ...
Tax Planning Recommendations
Thursday, May 05
It is true that the average American loses more money to taxes each year than we do on food, clothing, and shelter combined. This forces people to take the steps needed to take control of and protect their bottom line from taxes with proactive tax planning. So how exactly do you know if you are o...
Critical Review Areas that IRS Target for Audits
Thursday, February 03
Approximately 1.5% of all taxpayers are audited every year. Despite this relatively small number, the IRS still causes many people to shake in their boots when contemplating the chance of an audit. The odds are low that you would be picked for an IRS audit because the IRS does not have enough per...