Creating an LLC in which state

[John Rankin]

I currently invest out of state in Indiana. Would it be better to create an LLC in Indiana or my home state? Or should I create an LLC in Nevada for example where I hear has great protection? What if I end up investing in multiple states, do I need an LLC for each business in each state? What is my best option and why?

[Suzanne Player]

These are great questions, it looks like it’s time to get an attorney on your investing team.  To try to wing it will likely cause you a lot of wasted time, anxiety, and possibly the wrong answers in the end anyway.  There are a lot of pitfalls here, you also need a CPA to help with the tax issues.  Don’t let fear of fees cause you to make serious mistakes (that will cost you way more than the fees in the end).