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Updated almost 4 years ago, 12/03/2020
CPA & Attorney referreal for out of state investing
I will be investing from out of state (I'm from Argentina). I'm looking for an attorney and a CPA who could advise which direction to take with the LLC setup.
I will be investing:
- Real estate - I will buy 1/2 rental properties in Columbus, Ohio in 2021. I'm planning to buy 2 more in the next 5 years.
- Stocks investments - I will invest in financial instruments through a fiduciary.
What do I need?
- LLC setup advice for limited liability.
- LLC setup advice to optimize costs and taxes.
- Protection in case of death. Configure the best strategy so that a person of my choosing (from Argentina too) inherits the LLC easily.
Doubts
1) Should I have a separate LLC for real estate business and another one for stocks? Or is it better to unify both investments in the same one considering that I am not going to operate very large amounts and reduce maintenance costs ?
2) Which are the costs of setting up an LLC, maintaining it and filing taxes each year? I don't want the yearly cost of the asset protection to turn good investments into bad investments..
3) How can I deduct expenses from taxes? What documentation should I save? For example: Travels, business supplies (computer, etc).
4) Ownership succession upon the death of the owner. Maybe include transfer on death language in the Bylaws?