All Forum Posts by: Leo Hurtado
Leo Hurtado has started 4 posts and replied 14 times.
Post: Out of State tax for a new LLC
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Post: Out of State tax for a new LLC
- Posts 14
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im in riverside ca.
Post: Out of State tax for a new LLC
- Posts 14
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thank you all for your feedback.
Post: Out of State tax for a new LLC
- Posts 14
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Originally posted by @Christopher Smith:
Are these all single member LLCs (i.e., all with you as the sole owner and no election has been made to treat them as corporations)? If so, then the treatment for Federal purposes is relatively straight forward. You simply report the LLC's activities directly on the forms you would otherwise use (i.e., the LLCs as an entities are disregarded for Federal Income tax purposes). Having a CA LLC you will have the privilege of paying an additional $800 charge on your CA return, and you may also owe another $800 fee for both the Texas and Wyoming LLCs if your activity rises to a certain minimal level.
If any of these entities are multiple member LLCs they may be taxed as partnerships and its my guess you will need some professional assistance for that.
these are all single member llcs. actually california and the texas llc are owned by the wyoming llc and the wyoming llc owned by me.
Post: Out of State tax for a new LLC
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I know I have to pay the minimum of 800 for the california llc and 800 for the wyoming because wyoming owns the california and but my problem is how to structure it, if my tax person doesnt know how to do it and wants me to file all three llcs in california. I created my llcs based on what the corporate direct people suggest but they dont do taxes and this is a big hurtle for me to jump with too many llcs and cost not even included the cost of cpas yet. Lord have mercy on ME..
Post: Out of State tax for a new LLC
- Posts 14
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how to file my taxes for 2019, when I have an LLC in calif. and one in texas under a LLC in wyoming. I need help are there any tax people out there that can help me without costing me an arm and a leg. I live in California
Post: Out of State tax for a new LLC
- Posts 14
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can some guide me in the right direction? I just started an llc in texas and im in california/ do any of you know if I need to file as out of state or as if I live in texas?
I just finished with round one of my first credit cards and got 52k not bad. I am using a portion of that money to do some repairs on my rental properties I have and maybe by second round I can buy another rental. All thanks to Jason
Alonso at fund and grow.
Post: Texas Investment Properties
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what do you guys think of Lubbock or Amarillo to buy and hold as rentals?
I'm from Calif. trying to stay close to me as possible yet affordable under 100k.
Post: Texas Investment Properties
- Posts 14
- Votes 0
what do you guys think of Lubbock or Amarillo to buy and hold as rentals?
I'm from Calif. trying to stay close to me as possible yet affordable under 100k.