InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Yes we pay taxes. Posted by JK (the other JK) on November 20, 2009 at 8:13 AM In Reply to: Title Holding Trust Question... posted by Sean Frank on November 19, 2009 at 10:38 PM : Are the THT's you guys are using to hold title disregarded entities for federal and state tax purposes. I.E. - Do you file tax returns for all the THT's you create for each property? : If not, do you just show the gains on your personal return? Most of us have our accountants file a K-1 partnership return for each trust which individually 1099s us for the profit or loss of the trust. The IRS is the only creditor that can throw you in jail. So please stay away from the charlatans trying to pitch tax evasion scams. Make your money, give the gubmint it's cut and move on. Follow Ups: Re: Yes we pay taxes. hard money lender 11:31 PM, 11/20/09 (2) Re: Yes we pay taxes. JK (the other JK) 10:06 AM, 11/21/09 (1) Re: Yes we pay taxes. hard money lender 4:53 PM, 11/21/09 (0) Re: Yes we pay taxes. Sean Frank 10:16 AM, 11/20/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Are the THT's you guys are using to hold title disregarded entities for federal and state tax purposes. I.E. - Do you file tax returns for all the THT's you create for each property? : : If not, do you just show the gains on your personal return? : : Most of us have our accountants file a K-1 partnership return for each trust which individually 1099s us for the profit or loss of the trust. The IRS is the only creditor that can throw you in jail. So please stay away from the charlatans trying to pitch tax evasion scams. Make your money, give the gubmint it's cut and move on. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455