Louis through conventional financing and we are closing in less than two weeks however we haven't formed an LLC - We both have our own LLC's but we just formed this partnership and haven't established one yet between us.

Hi BP Members,I'm learning about partnership deals and would like to start one with a business partner of mine.

The considerations of both the structure of a partnership, the requirements to ensure commercial codes are met, and so many other things can be huge.BiggerPockets is amazing and I have been a fan for a long time BUT you need real advice from licensed and qualified professionals who will share liability for the advice they give because there are real liabilities at play across a realm of areas here.

If these apply to you, please research more, reach out to me, or consult with your tax advisor.If this is helpful, I will share some tax strategies for Businesses and Real Estate Investments in the coming days- Ashish Acharya, MAcc, CPA, CFP®, PFSHiring Kids: If you have a kid under the age of 18 and you operate your business as a sole proprietor or as a spousal partnership, hiring your kid can have significant tax breaks:First, your business gets the payroll expense deductions to save taxes at the parents level who are in a higher tax bracket.Second, neither parent nor the child would pay payroll taxes (15.3%) on the child’s income.Third, with a traditional IRA, the child can avoid all federal income taxes (around 11%) on up to $18,400 in income.IRAs: First, get a deduction for contributing to a Traditional IRA that can be easily established with most of the financial institutions.          

Partnerships Partnerships PartnershipsFind a good deal thats cost $0 just your time. 

Has anyone had experience with limited partnerships that purchase storage unit properties?  

Hey Everyone!My friend and I located in the Austin, TX area, and have recently formed an LLC in Texas to begin our Real Estate Investing venture together. We both have enough funds and credit score to finance our firs...

@Aaron VuUsually, its not advisable to hold Title of a property that you are using as your primary residence...The LLC, which will default to being taxed as a partnership, is a pass-through entity. 

@Aaron Vu I would recommend both buying FHA separately and then entering into a partnership afterwards. 

Through an entity(LLC, partnership, etc) or as tenants in common(personally in both your names).