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Posts Tagged tax

Ten Things You May Not Know About an LLC

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 […]

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Capitalization vs Repair Expense

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 […]

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What About the LLC Tax Election?

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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