I registered an LLC in Virginia to handle my rental property. For 2012, I filed Form 1065 as a partnership. For 2013, I want to close the partnership and change the LLC into a disregarded entity to file under Schedule C of my 1040. Can I carry over the $17k loss from the LLC into 2013 after the conversion? Additionally, I plan to buy another rental property and manage it through a new single-member LLC. Should I set up a new LLC for each rental property, and what are the tax implications of this plan?

December 5th, 2024

I am a Brazilian with a B1 visa and plan to open an LLC in Nevada for business and real estate investing. I need to know: 1) the cost of accounting services for LLC maintenance, 2) if I can use the LLC account to pay for condo costs and expenses, 3) whether I need to open a personal bank account for daily expenses, 4) if I need to renew my stay every 6 months or if there are other visa options allowing longer stays, 5) the financial risks and costs involved in this plan, and 6) the best visa strategy for long-term presence in the USA.

October 25th, 2023

I accidentally paid my federal tax twice for the 2018 tax year. What should I do to get the overpayment refunded?

June 23rd, 2024

What is a bearer share corporation and how does it differ from a general corporation with common shares? Additionally, how can shares be registered if they haven't been issued yet?

June 9th, 2023

Do you have to show your Social Security income when seeking financial assistance to save your home?

October 16th, 2023