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Updated about 3 years ago,
Umbrella corp worth it?
Hey all,
Up until now our rental properties were held in our name. As I'm scaling to larger buildings (we do buy and hold) I now want to incorporate for the tax savings and protection. I'm still very much a rookie when it comes to understanding how to fully leverage corporations. We'll ideally be acquiring a 10-16 unit building this year which I plan on putting in a corp. My accountant asked me if I also wanted an umbrella corp that houses the 10-16 unit corp. My filing and monthly accountant retainer fees would nearly double so I wanted to ask you guys is the umbrella corp worth it?
Ryan