Recent content by jfwfla

What is the name of your state (only U.S. law)? FL Do I need an Attorney to do this or can I trust the myriad of websites that claim they will set one up for me? Even though I'm in Florida, would I be better off forming the LLC in another state such as Nevada? I already own one rental...

What is the name of your state (only U.S. law)? Florida I wish to know if it is posible to form an LLC for the sole purpose of buying a condo which will be my primary residence? since the LLC will not be engaged in any money making activity (other than long term appreciation in property...

Yes I did. There was one reply in which the poster gave an opinion but, said they weren't entirely sure how it would effect my taxes. I appreciate you help though.

Would be an ecellent answer if I had a CPA or Attorney on retainer. I own one small condo which doesn't even produce a positive cash flow yet, egro, seeking out a CPA would just add to my already negative cash flow. Was hoping I might get an answer here, but no one (so far anyway) seems to know.

Thanks! Did anyone else know anything else regarding this?

OK, thanks!

What is the name of your state? Florida seniorjudge Senior Member Join Date: Dec 2004 Posts: 7,750 Quote: Originally Posted by jfwfla What is the name of your state? Florida I was wondering if I refi a condo I rent out in order to cash out equity, How will the IRS view the new loan...

What is the name of your state? Florida I was wondering if I refi a condo I rent out in order to cash out equity, How will the IRS view the new loan? In other words, I currently have a mortgage balance of about $46,000.00 and have been showing about $2,500.00 per year inerest deduction on my...