All Forum Posts by: Yi Chu

Which investment companies do you recommend to set up an Roth IRA account for real estate investing purpose? The money in Roth IRA account will be used for real estate investing.

What are the common ways to record mileage (for example, from primary home to investment property due to repairs or property management) for tax saving purpose, which are acceptable to IRS?

Thank you @Sean O'Keefe and @Michael Plaks. 

The LLC was under my wife's name only. She will file the annual report with NC.

We set up an LLC in Q4 2023, so there was no business activity last year. How should I file federal and state (North Carolina) tax return?

We set up an LLC in Q4 2023, so there was no business activity last year. How should I file federal and state (North Carolina) tax return?

Let me clarify my second question: currently my LLC has one owner. If I add another owner to the LLC (two owners with 50% ownership for each owner), how can I inform IRS and Secretary of State?

Thanks Juan.

Let me clarify my second question: currently my LLC has one owner. If I add another owner to the LLC (two owners with 50% ownership for each owner), how can I inform IRS and Secretary of State?

Thanks Juan.

Let me clarify my second question: currently my LLC has one owner. If I add another owner to the LLC (two owners with 50% ownership for each owner), how can I inform IRS and Secretary of State?

Can someone help me with the following two questions?

1) If you set up an LLC (with an EIN from IRS and approval from state) but it turns out you don't have any business during the year, how do you report that for your federal and state tax return in the following year?

2) How do you change ownership of you LLC for at both federal (IRS) and state levels?

Thank you!

Can someone help me with the following two questions? 

1) If you set up an LLC (with an EIN from IRS and approval from state) but it turns out you don't have any business during the year, how do you report that for your federal and state tax return in the following year?

2) How do you change ownership of you LLC for at both federal (IRS) and state levels?

Thank you!

Can you recommend the book you like the most regarding tax strategy for real estate investor?