Luis Farlow: Economics? the preparation from the final 40 years or so? incredibly data and figures? Takes little or no to dig up if knowledgeable. study the Paul Ryan Plan and notice how plenty it provides to the deficit. Unpaid Tax cuts. A loophole which inspires firms to go materials distant places to dodge taxes. greater taxes for the midsection classification and intestine each thing that keeps democracy in place. Public Land..they're taking it now... Dictatorship, vast regulations for the persons. intestine the midsection classification right into a bad serf, and no regulations or taxes for the a million%, Banks, wall highway, firms, and the better area is the Koch brothers get to tear up united states of america to export oil to China, India and each and all of the extreme paying purchasers on the international industry...they get to weigh down Europe back through our industry crime... Oh how plenty exciting which would be for the grasping drunken a million%....... ! The aftermath is WW3. different international locations won't post with those adult adult males and actually they could have the main suitable to bomb us if we enable this back... study from the instructions of the previous...Show more
Shane Getler: Why would her tenants have to pay a tax?Real estate should never be held in a corporation.
Ronny Dorge: How would the tenants be taxed on the income? It's not THEIR income!The CORPORATION is taxed on the income. To add insult to injury, any dividends that she pulls out of the corporation are taxed again on her personal return. She needs to keep her business and personal finances separate. She also needs to consult with a tax professional (a CPA or EA, not a storefront tax prep mill) who specializes in small business tax issues. Putting the real estate in a corporation is normally a LOUSY idea from a tax standpoint and she may wish to reconsider her options. Her dwelling fire policy should provide sufficient lia! bility protection, both for the rental assets AND her personal! assets, far more so than a corporation ever would. She also has capital gains issues to contend with by transferring the property to the corporation....Show more
Len Dalba: Your Accounting GURU HereNumber 1: Your friend should have opened up an LLC "Limited Liability Corporation": This way she could protect her assets in case of a lawsuit: There are "At-Risk" Limitations when you are business: Number 2: She needs to deposit her Rental Payments into her business checking account, and not her personal account. This way if there is any legal contingencies, no one can attach her personal account. Number 3: An LLC is a passthrough entity. It does not pay taxes, the taxes are passed down to the owners (shareholder).Look at the website below to help your friend:Also, she needs to study the "Federal Fair Housing Laws"Ernest HintonAccountant GURU...Show more
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