Hi
GOAL: To protect my wife and I, and to do the taxes correctly. and figure out if I need a DBA. I set these up a year ago, but the CPA never said anything about a DBA. This is the first tax returns this way.
1. State of Colorado,
2. 5 rental properties... each one with its own E.I.N and is a Multi Member LLC.
3. 1 Multi Member LLC with EIN that is the management company of all the LLC's
4. Examples: A LLC, B LLC, C LLC, D LLC, E LLC, ABCDE Management LLC.
5. One charge card and one checking account under ABCDE management company
4. The tenants write their check to the ABCDE Management Company LLC
5. Pay all bills out of the ABCDE Mgmt. LLC account.
6. I track all expenses and rents separately by each individual LLC, A, B, C, D, E LLC
7. Do my taxes in each individual LLC including a return for the Management LLC,
8. The management LLC is just a few expenses for itself. No income.
Thank you
