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16 April 2024 | 6 replies
1. probably the easiest and least complex options - also should not be really any more cost than opening a single member entity tbh...ensure that dissolution clauses are properly drafted for you both being on title2. for one rental property, this is overkill (although there are many people that will say you need to do this...the maintenance and cost of a trust for one rental property is likely not profitable) 3. personal name with good insurance policy if you're worried about liabilityHappy to go over ideas.
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16 April 2024 | 2 replies
This sounds like a great opportunity to do some tax planning with a CPA to determine what type of entity structuring meets your goals.
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18 April 2024 | 43 replies
To learn about entity structuring possibilities for your investments, tax ramifications, and legal requirements, speak with legal and tax specialists.
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17 April 2024 | 18 replies
However, I do not have any LLCs or any other entities other than myself.
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17 April 2024 | 13 replies
Your property management company will at least have the expenses of creating the company (I would strongly recommend creating an entity), bookkeeping, tax preparation and the 401k plan setup and management fees.
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16 April 2024 | 11 replies
You still want to keep that, so find out who your title insurance carrier is and ask if you need to add an additional insured(if so add your LLC) or if any entity is single-member owned by the original owner of the title insurance it then applies too.
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15 April 2024 | 2 replies
Florida considers it to be a sale when it’s between separate legal entities; they deemed the sale to be in the price of the mortgage amount.
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15 April 2024 | 20 replies
But that assumes you have minimal equity within a LLC and you’ve operated the entity in a fashion that cannot be pierced.
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21 April 2024 | 240 replies
We have in-house property management that is under a different entity in order to satisfy all of the laws and regulations here in Ohio.List'n Sell Property Management is fully licensed and insured, etc...All of the companies that are under the Ohio Cashflow umbrella are owned and controlled by me.So as long as I'm living and breathing, everyone will do well.If I die, you will be at the mercy of @Dominique Osborn and she is much meaner than I am so good luck hahaThanks
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15 April 2024 | 19 replies
He's here this weekend for actually two days: Friday p.m. from 3 to 6 he'll be talking about using QuickBooks in your REI business and Saturday from 9am to 5pm he'll be talking about building your entity structures for tax advantage, asset protection and estate planning, including how to pay your minor children without also having to pay SUTA, FUTA, FICA, etc. for them.I can't do this justice not being a legal / financial professional, but from what I remember, you DO NOT WANT to pay them out of an S-Corp or an LLC.