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INTRODUCTION
Hey everyone! πŸ‘‹My name is Anthony Damilola, and I’m excited to be joining this community Glad to be here, and excited for what’s ahead! πŸš€
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Tax/Business Question
I have a tax/business question for anyone qualified to answer it. Basically, I started an (Indiana)Education Services LLC many years ago, then stopped using it in 2015. I stopped filing taxes on it and stop filing my entity reports. Somehow, miraculously, they didn't administratively dissolve my company, and I'm reviving it. I changed the name, updated the address, using it for Real Estate now, etc. Since I had it the whole time, what are the tax ramifications of using it again? Both good and bad. For this current tax cycle, for the 2025 taxes, can I use the LLC for tax savings in 2025?
Takeaway from Day 3
My biggest take away from Day 3 was the amazing idea/plan of refinancing the property with a long term loan/mortgage with a bank after the renovations, paying off your debt with that money and keeping the property so it appreciates over time. Genius idea!
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