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Nothing contradictory. The LLC is for the rental business. There are no meaningful assets...it does not own the property. The LLC manages the day-to-day finances (rents collected, bills paid) plus a credit card, paperwork (not the mortgage, not the deed etc). Balances are never much once the...
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What would be the downsides to making an S-corp election for the LLC? LLC only handles the day-to-day finances
The only reason I need the s-corp is to maximize retirement contributions.
Yes, not normal. Agree. Fine w/all profits from consulting and real estate being treated the same.
Would you have thoughts on whether or not to use the DBA name, LLC name or both on the paperwork (contracts, W9 etc)?
Yes, I was advised and the reason why I am here is to vet some of that information...as I am question some of that myself.
LLC has no meaningful assets. LLC is used to collect the rents, pay the bills, credit card etc. It does not own property of anything of meaningful value. (title is not held...
All: Thank you for your patience as I am new to the corp-to-corp, s-corp etc. Thought a separate post would be appropriate as the question hits a different subject of the DBA. My apologies if the preference is to keep the threads together.
FlyingRon: The LLC is a standard LLC and has remained...
What is the name of your state? PA
Pennsylvania
This year I switched over to independent software contractor (corp-to-corp) (from more traditional W2 consulting).
The s-corp is set up as a DBA, associated with an LLC which I have had for many years for real estate.
Official documents arrived...
Pennsylvania:
This information was provided as advise from a high priced lawyer...and want to vet it here to see if I am understanding properly.
Many years ago I set up an LLC for real estate rentals and everything has been going fine.
This year I started out on my own as an independent...
Yes, my thoughts are the same in terms of speculating around the new owner's perspective.
From a legal perspective, does "want" matter?I would expect that a contract was made with the purchase of the prepaid car washes (contract between the buyer and the business entity (not old owner). The...
What is the name of your state? What is the name of your state?PA
I am, for the first time, an independent contractor in Pennsylvania.
I have not been finding much (relevant) information around workers comp and if it is required in pa
A number of changes whereby bankruptcies, missed payment etc will not be included in the report. Scores will be higher for those with credit problems, and credit problems will not be available
What is the name of your state? PA
The changes to credit scoring appear to put landlord at a disadvantage as we no longer have access to critical history elements. How are other landlords handling this?
What is the name of your state? PA
I purchased a book of carwashes (no expiration btw for those who might ask.)
Car wash gets sold to another company, and that new company will not honor the prepaid car washes.
If someone buys an investment property, that new owner is obligated to adhere to...
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