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...
The IRS has been wanting to tax the redemption of airline miles or credit card points for years, and although they haven’t succeeded yet, there are still strategies to be aware of. Some common examples of credit card rewards that do not need to be reported as...
I wish that it was as easy as just filing a form with the State and you have magical tax savings and bullet-proof asset protection, but that’s simply not the case. Operating your business in the S-Corporation format can provide some amazing benefits, but if we...
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. ...
Every week our firm gets call from clients around the country who have lost money by investing with friends, family or neighbors they trusted—but who were not licensed to sell securities or did not properly document the relationship as a partnership. Many of these new...
