Once again, it’s time to be sure you’ve issued 1099’s appropriately. If you have a business or rental properties and have hired contractors or businesses, you may be required to issue 1099’s letting the IRS know who you paid. There are 21 different 1099’s, depending on the situation. Most of
A couple years ago I was teaching a class for a Real Estate Investor Association in New Jersey. An older gentleman, “Ron”, stopped me to discuss his existing structure. He owned twenty-three rental properties, all free and clear, with a value of $350k to $450k each. “Ron” explained that over the years,
Last week a referral called me. “Samantha” explained that she was an investor and real estate agent. She did a wholesale deal to help out a friend several years back. The property was valued at $250k, and she made a modest fee. Nearly 2 years after the sale, the “friend”
A couple days ago one of our ADPI members asked the group, “Not sure if I should put my rental properties in an LLC or an S Corp. Any advice? Such a great question, and so important you understand why we NEVER EVER hold rentals in an S-Corp. So, I’ve
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