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Updated almost 6 years ago on . Most recent reply
Moving Assets from C-Corp to LLC
Need a little help here. My family has multiple companies that hold real estate and one that annoys me the most is a C-corp. We have a manufacturing business and diversified many years ago by buying real estate. That may have been the best way back then to finance through the C-Corp but now we are getting killed on taxes. What is the best way to transfer our properties from a C-Corp to an LLC? both companies are located in New York State. They are commercial properties.
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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
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#3 Tax, SDIRAs & Cost Segregation Contributor
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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
Pro Member
#3 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- New York, NY
@William Thresh
Holding real estate within a C-Corp is normally not advisable. You want to determine what the tax burden will be to move the property out of the Corporation.
- Basit Siddiqi
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Basit Siddiqi CPA
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