A CPA friend of mine recently sent me a list about LLCs that he had sent out in a newsletter. I let him know that his source for newsletter information doesn’t understand a fundamental basic concept of LLCs–that the LLC tax structure and legal structure are totally […]
Read more →You may have heard that it is better for rental property expenses to be classified as a repair rather than an improvement. This is because repairs are deductible in the year their cost was incurred, while improvements must be prorated over the life of the asset. Often […]
Read more →The decision on how what LLC tax election to make is one you should make with the advice and help of an accountant. Ultimately it is a financial decision that should take into consideration what your business is and how it makes money.
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