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Updated about 7 years ago on . Most recent reply
Transferring Assets into an LLC
Now with the 20% tax deduction on pass-through income....how simple is it to setup an LLC and transfer a property to the new formed "company?"
Most Popular Reply
John Mocker
#1 Insurance Contributor
#1 Insurance Contributor
- Insurance Agent
- Norwalk, CT
Michael,
You may want to explore the affect on your Insurance coverage if you move the properties to an LLC. I would check with you current agent and make sure the current company will cover the properties under an LLC and if the price will change. If you have an Umbrella policy and you will using multiple LLC's you should check to make sure you can insure multiple LLCs on one policy.