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Updated almost 8 years ago,
Business entity question
Hi Everyone
I own 2 condo units in New Jersey, and I wanted to place them under a business entity, The units are own free and clear.
I was reading on my options but I decided it is better to seek a professional. I own in New Jersey but I live out of the state, I read it is advantageous to get incorporated in Vegas, and Wyoming. I read that it is better to put both properties into ONE entity , while others state it is better to place each property into their own individual entity. which one would you recommend? I read options on Land Trust and place the trust into a LLC, I don't know if this is beneficial?
I want something that provides the best protection for me and my personal assets
I want something provides the maximum tax advantages for my small operation.
Ideally I want something that is structured in a simplified manner and easy to manage
I want something that doesn't cost a lot of money to set up or maintain yearly.