All Forum Posts by: Alfred Harrison

@Amul Sutaria I haven't had much luck asking around either lol. Seems like you just have to find the right one on your own.

Anyone?

@Igor T.@Nicole Heasley Beitenman Wow I had no idea that was happening in NE Ohio. From what I have been reading lately regarding Cleveland and Toledo areas, I thought things were going fairly well in terms of neighborhood stability. So, the city of Cleveland is actively knocking down abandoned houses? Are there plans to do anything with those areas where houses have been demolished?

@Nicole Heasley Beitenman Thanks for the insights.

@Matt Quock Excellent set of questions. I have been researching the Series LLC myself and the responses in this thread seem about right. There doesn't seem to be any case law in any state where the series was has been put to the test in court. So, it's still kind of up in the air as to the asset protection seemingly offered by the S-LLC. At the federal level on the tax side, there was an IRS PLR recognizing validity of the S-LLC. So at least on that small front, there is seems to be some clarity.

As mentioned above though, you 'likely' still need to register each series as a separate foreign entity in your S-LLC with your home state (assuming the series is out of state) and pay any associated fees (annual filing fees for example). Beyond that, you of course will need to register each series and pay any associated fees for the state in which you organize the series.

And you need to keep distinct bank accounts, transactions, accounting, etc. and do as much as possible to keep each entity separate. It almost seems like it may not be worth it in the end. But, someone much more knowledgeable may offer better insight. I'll be contacting a tax specialist in my state to see what may be best in my situation. Good luck.

@Nicole Heasley Beitenman What do you find are some other reasons that OOSI fail?

Powerful story. Thanks for sharing and congratulations!

 This is a brutal thread but this post is gold lol

@Steve BabiakThat's very useful information. Good to keep in mind for sure.

Sounds pretty intense!