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Updated about 5 years ago on . Most recent reply
What type of entity should I create to govern my LLCs?
If I have multiple rental condos titled within various single-member LLCs (each condo is it's own LLC), what entity should I create to be the "master" entity? This entity would be the "manager/single-member" of the LLCs.
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Eamonn McElroy
#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
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- Atlanta, GA
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
The answer is...this should be the result of a deep conversation between you and your attorney and tax professional.
I see way too many people set up a structure that adds $1,000 in annual compliance costs and administrative overhead when they only have $100k worth of rental real estate. Usually not a single word is spoken to a professional before these structures are set up...