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Updated over 8 years ago,

User Stats

201
Posts
29
Votes
Nadine Lajoie
  • Investor
  • Long Beach, CA
29
Votes |
201
Posts

How do I sell a note in Georgia to close that company?

Nadine Lajoie
  • Investor
  • Long Beach, CA
Posted

Hi, I have a big dilemma.  Because of double taxation Canada-USA (63-73% in my case) and all international form requirements, since I got married last year, and became a US Citizen for tax purposes ONLY (!!!!!!!!!!!), I have to close as many of my companies as I can right now, before December.   That will also avoid me $3-7k in International Tax Preparation nightmares, per company!!!! 

1st-  One of them is in Georgia, I have a note with a land contract (Midway, 30315), tenant buyer is paying $425 per month at 10%.  Should I sell the Corporation or just the note and close it down?  If I sell the note, do I just transfer the land contract and deed to buyer and can just close the company, and that's it?  I guess the other way would be to quit claim deed the property, deed and note, to my MAIN company that I will keep open, right?  But I'm not sure about all the administration and complexity of that either?  Someone can help?

2nd one is in Florida, empty now, but some people told me I should sell the shell, for people who want to build their credit, since that is open since 2011, US citizens (not me!!!!) could get a corporation loan right off the bat.  Is someone knows about the process???

3rd one is in Quebec, Federal Corporation, opened since 2009 with lots of history and revenues in the past, and will be empty as soon as I sell #1 and #2....  

I need to finish all those 3 transactions by Dec 2016, and don't want to pay another $15-20k in attorneys/accountant fees, so I'm trying to do it myself....  they got $37k last year from me and made 133 + 36 mistakes = 169!!!!  and I'm not exaggerating.... sniffffff!!! :-(

I'm done with them!!!! Transitioning to a new firm, but want to keep it as simple as possible before I move over, so I don't have to pay exorbitant fees, because regular accountants cannot take care of international stuff!  Better to close down the 3 businesses that are the easiest!

Thanks if you can help!

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