Every week, if not every DAY, one of the attorneys in my office is asked this question in a consultation. We take this seriously and want to give them the answer that is in THEIR BEST interest, which means an LLC for every rental probably isn’t necessary....
This is a very important question and something we often analyze for clients in our office. In fact, many clients rush to put their spouse on payroll, but for the wrong reasons and it could actually be a costly mistake. First, here are two big reasons NOT to put your...
I meet one on one with at least 1,000 clients a year to discuss their business ventures, tax planning and most importantly their rental properties. Inevitably, we are going to talk about wealth building and rental property is going to be critical to the discussion. ...
As many of you know, our law AND accounting firm recommend to ALL of our clients to purchase at least one rental property a year for tax planning and wealth building benefits. It doesn’t have to be big, but at least something. Thus, I have created these “10 Steps to...
How many of you build, track and utilize credit card points for personal benefit? It’s a great tax strategy (credit card point redemption benefits are currently tax-free), AND it’s an added bonus when you have to pay one of the most dreaded bills of the...
Many of us at some point in our lifetime are going to experience at least one year where we are faced with a daunting tax bill. Even the most careful and successful people can have a problem paying their taxes due to an unforeseen situation. First, don’t...
