All Forum Posts by: Javi Chipi

Check to see if your state makes a single member LLC file its own tax return. I agree with the previous poster too an LLC doesn't give you extra tax benefits. Look at a Sch E for things that are typically deducted related to rental properties.

I think Russell is current.  Outside of your initial meeting with the CPA and an annual status meeting you will mostly communicate with them over email and by phone.  Just make sure they are responsive.  CPAs should respond within 1-3 days of your email. Sometimes the way the industry is CPAs get very busy all at once but generally they should be responding to your questions in about 1-3 days.  Also make sure they are in fact a CPA.  There are a lot of tax preparers out there that are not CPAs. 

A SMLLC taxed as a disregarded entity is a common structure. This way it doesn't complicate your taxes and still provides some asset protection. Not a single answer to your question.

Going to read the forum, listen to the podcasts and webinars. No shortcuts just have to learn the ropes.