All Forum Posts by: Robert Sutherland

LAS VEGAS (KLAS) –– It’s official: Short-term rentals in residential parts of Henderson are now allowed, thanks to a unanimous vote by the city council Tuesday night. That means people can rent homes through companies like Airbnb.

The City of Henderson says while it’s allowing short-term rentals in residential areas, there are still plenty of regulations so that enforcement will be stronger than ever. There’s a long list of requirements the renters have to meet.  Regulations include paying an annual $820 registration fee, capping the number of people in a home to 20, and paying $500,000 in liability
insurance.

Posted: Jul 17, 2019

Per these sources

https://knpr.org/knpr/2019-07/...

https://cityofhenderson.com/co...

This pretty big news in Southern Nevada, since there's so many restrictions on operating them in Las Vegas and North Las Vegas.

I purchased 
hendersonnevadavacationrentals.com and
hendersonnvvacationrentals.com
at godaddy.com tonight.

I live in Henderson Nv and have an IRA I inherited from my deceased mother, and would like to form a checkbook control self directed IRA/LLC for the purposes of purchasing an absentee owned business and have chosen Preferred Trust Company in Nevada for my custodial account. Their website at https://preferredtrustcompany.com/create-account-traditional-ira/ has an online application that requires you to give an ownership title to the SDIRA and labels it Vesting, and was I'm wondering what would be the proper title to give my SDIRA. I'm guessing since I'm purchasing a business a good title would be Inherited Preferred Trust Company: LLC FBO (my name). Is it necessary that the word Inherited be in the title? I'm asking you because after skimming through Mat Sorensen's book on SDIRA's he says it's very important that the IRA's investments be in the name of the IRA and not in the name of the owner, so the title of the IRA is very important. Also since I inherited it from my mother is it important that her name in the title or not? I've decided to use Matt Sorensen's company KKOS to set up the LLC and I'm wondering if that's a proper title for this type of IRA/LLC account. I'm guessing I should call KKOS but I wanted to get someone's opinion here first before I do that.

"Also, and IRA/LLC is primarily for a passive income situation. Ordinary income may be subject to UBIT tax which could be as much as 39%. And be careful of self-dealing."

I'm thinking I should create a C Corporation instead of an LLC, since the corporate tax rate was lowered to a flat 21 percent rate this year since the passage of the Tax Cuts and Jobs Act on December 20, 2017 to avoid paying UBIT tax.

Are you sure about this George?  I called a custodian company in Las Vegas called Preferred Trust and they said it was possible to invest in an online business like an Amazon store or a website with a SDIRA as well as real estate.   I have been told that this would have to be an absentee owned business.

I live in Henderson Nv and I want to form a self directed IRA/LLC for the purposes of purchasing a business, and possibly real estate. Does anyone know how long this process takes? Should I form the IRA/LLC first before I make an offer on a business or property, or is there enough time after making an offer on the property to setup the IRA/LLC structure usually? I have no experience in forming a business structure of any kind, so I called up a business consulting company that's highly rated by Yelp critics for assistance, and they told me it would cost around $4000 to setup the IRA/LLC. Does anyone know if this amount is typical. I was expecting more in the $1500 range. If anyone knows of a cheaper alternative here in Henderson or Las Vegas, I'm interested.