All Forum Posts by: Jeff Howard

Oh wow we replied over each other Deren, thanks!!  You are awesome... same q as what I just sent... Do I need legalzoom if I do what you said, and I just said in my last post?

Oh wow, wife just found this form for the state of Oklahoma, wow is it this easy? Why do I need legalzoom?

1. Fill out this form http://www.sos.ok.gov/forms/fm0074.pdf

2. Pay your $100

3. Go get an EIN from the IRS

4. Pay your annual $25.

Do you have to set up the LLC with the IRS too? Is that why I need legalzoom

Hi,

Wife and I are trying to do an LLC for our one property. Questions...

1. If we rent it first, and then start an LLC, does that mean we have to redo the paperwork with the renter later?

2. Trying to use Legal Zoom...They want $150 for the basic which I think works for us, but then they want...

A. $80 to get the tax id number - Cant i just do that myself?  IRS.gov says so

B. $250 a year for filing my business tax return.  I don't need this if its a SMLLC or Disregarded Entity, right?  You can just file with your individual tax return.  And besides that, if I do my taxes already myself, how hard is it to do a separate tax return on one property.

3. I want the LLC set up so I can get my company name locked in and start using it to rent property.  I am going to be very thoughtful to make sure I do it right. If I do something wrong with the LLC, can't I just fix it? Probably cost some money with an attorney maybe?  - Note, I know what comments that comment might generate, I am not being caviler I intend to get it done now, and once i have it rented and things die down I will go back and double check that I did it right.

Thanks in advance, trying to navigate this.

What does everyone else do for mail correspondence with a renter?

Yes they will for $20 a week, no thanks

Once a week is a lot, wonder if they will forward it to our home address...

Should i give the renter my home address or use a PO BOX for rent payments and correspondence?  If they wanted to find me they could just look up my name on the county assessor website, but what do most people do about this?  PO BOX would be a hassle, home address makes my wife a little uncomfortable.

Thanks guys, thanks for explaining the importance, proof of what they say... here is what we will tell them when they call...

• Please be aware that in order to show the property and process the application we will need you to bring a copy of your photo id, however if you prefer we can just take a picture of it with our phone once you come to the property.

The book we are reading says to get a copy of the potential renters photo id.

1. Do you really need this? Why, if they are filling out an application its all on there, right?

2. If you do, how do you get it if you don't have a copier on the property and you don't have an office?  I would think taking a picture of it with your phone would not be something the renter would want us to do.

Thanks,

Thanks Andrew, good points.