All Forum Posts by: David Yu

So to protect the asset, is it ok to just bump up the liability insurance limit and having an umbrella insurance policy?  Have LLCs are costly.  Does the insurance do the trick? 

I know there are stores that have an entity hold the real estate and have another company as an operating company in case of lawsuit. I'm trying to think how does work for real estate owners. If you have a LLC to hold the building, how do you have another company to operate it? What would the income be for that operating company?

Thank you guys.  Can I see how the plans are setup?  And the fees and everything.  Not sure if i'm asking the right question.  

@Justin Windham @Mark Nolan

@Justin Windham @Mark Nolan

I thought you can't invest in your own business.  Is that through C Corp or I'm missing something? 

@Ryan Billingsley

Thank you, Ryan!  How much do you pay for your plan?  Like to open the account and yearly maintenance and stuff?

I'm confused.  Can you borrow money from solo 401k for personal use?  I understand like buying your primary resident.  Can you take a personal loan?  Personal loan can be buying a car or anything personal like that right?  Just not to fund your business?

Thanks!

I'm wondering when it is necessaries to start putting properties under LLC. Any reads to recommend would be greatly appreciated.

Not sure how to do this.  I have to issue a large 1099 for a business associate/partner who helped me to close the deal.  My CPA is saying don't issue so many 1099s.  I don't get why. Any clues what she's talking about?