The cost to set up an LLC for rental property ranges from $100 to $300. This small investment creates a strong shield that protects your personal assets from property-related lawsuits. Property owners who skip this protection put their personal wealth at risk from legal claims when tenants get injured or property disputes arise. Rental property […]
Picking the right business structure can feel overwhelming with five different options available. Business owners must choose between Partnership, Limited Liability Company (LLC), Sole Proprietorship, S Corporation, and C Corporation. Each option has unique tax implications and operational requirements. C corporations must pay a 21% federal tax rate and deal with double taxation. S corporations […]
Does this sound familiar? You started an LLC but never used it for anything. The IRS doesn’t ask for tax returns when LLCs have zero income or expenses. Your state might just need annual fees though. Some states like California charge $800 yearly, whatever your LLC’s activity level. You have several good options to deal […]