Why LLCs beat Corporations in Real Estate
Friday, September 23
Why use an LLC partnership instead of a Corporation?LLC-partnerships avoid the following corporate disadvantages by default (automatically); by election; or by planning. When referring to a partnership the term “partner” includes a member of an LLC or more specifically of an LLC-Partnership. S...
Do you have the right Entity Structure for your Deal?
Friday, September 23
I often get asked: "Is an LLC Preferable to an S Corp for a Real Estate business?"It depends on your RE strategy. The entity you form should be based on your real estate investing strategy If you are rehabbing, wholesaling or bird dogging you should form an S Corp to help you lower your self-empl...
Good RecordKeeping Can Save a Ton of Money
Friday, September 23
Good Record Keeping as a Real Estate Investors can save you a TON of money! Good record keeping can save you a ton of money and keep the IRS off your back. The key to superior recordkeeping is to make a habit of it. Recordkeeping should be done every day or every week and at least every month. Re...
Don't Let Poor Tax Advice Land in Jail Like Wesley Snipes
Friday, June 17
Actor Wesley Snipes was sentenced Thursday to three years in prison for three misdemeanor counts of failing to file tax returns -- the maximum requested by federal prosecutors. Federal prosecutors said the actor for nearly a decade escaped paying more than $15 million in income tax returns b...