All Forum Posts by: Tanh Truong

Awesome deal. Thanks for sharing. 

@Cindi Short I'll definitely shoot you a message when I'm in town. Unfortunately, I won't be in town until August 18th, or else I'd attend the meetup. Thank you for the information though!

Hello BP Community! I'm a new investor in Cincinnati, Ohio and will be in Orange County, California mid-August for about a week or so. I would love to get together with anyone in that area and talk about real estate. The goal is to learn more and make some new friends. If you are interested, please reach out! Thanks in advance. 

@Michael Plaks Appreciate the help!

Hello Everyone

My partner has filed for an LLC (Cincinnati, Ohio) back in February as a single member and we have made an Amendment to include me as a 50% owner in the LLC. Currently, I believe the LLC is classified as a sole proprietorship/disregarded entity. I have a three-part question.

1. Would I have to file form 8832 to change our classification to a partnership or will it change by default? 

2. I've read that this requires a new EIN. What are the steps for this process? Does it have to follow in line with filing the form 8832, if a filing is needed?

3. We are also filed with the city of Cincinnati (local witholding tax) and the current location has a 2.1% witholding tax rate. We plan on changing the location of the business address to avoid this tax. Does anyone know the process behind this? 

Any and all information will be greatly appreciated! Thanks in advance.