Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago,

User Stats

50
Posts
27
Votes
Phyo Ko
Pro Member
27
Votes |
50
Posts

Seeking advice feel like I am being over sold by CPA/ tax advisors

Phyo Ko
Pro Member
Posted

Hello everyone, 

I am in the market for a new CPA to help me with setting up business structure and prepare for my tax return next year. I have talk to a couple of different companies but all of them left me feeling over sold and not in good hands. I am hoping to get a unbiased opinion to see if I am just being overly cautious.  

I am currently in military stationed in CA and will be moving to FL end of the year. I have a duplex that's rented out right now and a SFH that I plan to start renting out Jan24. I plan to get my real estate license in FL while I get into fixing and flipping in fl. I want to set a good structure in place for my properties in CA and what I plan to do in FL. Also I want to set up LLC for my wife who has a side business that picking up a lot of traction.

The CPA I have talked to have recommended different approaches on how I should set everything up. One has me putting the CA properties into a LLC with a WY holding LLC owned by a Living Trust then a separate LLC holding company for me and my wife business. Another one has me placing my CA properties into statutory trust-LLC-Land-Wy holding LLC- Living trust and me and my wife separate LLC with a LLC holding company taxes a C corp. I am lost with all the different holding company and trust do I really need all of this complexity? Do I really need a Wyoming LLC, statutory trust and etc? Can I just by with a LLC for my two rental and two llc for myself and my wife? I am still taking my first step I feel like this is over kill. Thank in advance for any advice.

  • Phyo Ko
  • Loading replies...