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10 October 2015 | 10 replies
You will basically have pierced the veil for any lawsuit that comes your way.You will also want to look at registering your LLC to operate in Alabama.
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3 August 2023 | 71 replies
It doesn’t make sense to me.I don’t have the fog lights (the information or mental acuity) to pierce through the cloud of uncertainty.
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3 June 2021 | 66 replies
However, what I am about to say truly pierces my perpetual LA pride.
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13 October 2014 | 9 replies
Aurora, Verona, Monett, Pierce city.
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9 December 2019 | 4 replies
Welcome, ErikI'm an agent in Fort Pierce, a little south of Daytona.
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12 February 2020 | 5 replies
I own a house in north pierce county WA with a mother-in-law inside a detached garage.
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16 February 2020 | 11 replies
The correlation between the reality side and management side has already been pierced in multiple instances.
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27 December 2021 | 43 replies
A lot of landlords are advised to put their properties in the name of an LLC for asset protection.While this is basically true, the reality isn’t what most landlords think.If a legal issue occurs with your property resulting in a lawsuit, there’s a high likelihood the plaintiff’s attorney will be successful in “piercing the corporate veil” of your LLC and being able to sue you directly.
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9 June 2023 | 25 replies
I'll also bet the majority of single member/small LLC's used by landlords could be easily pierced anyway.
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25 June 2018 | 6 replies
Whether the courts of a non-series LLC state would respect the liability shields of a series LLC is not known.The IRS has issued proposed regulations providing insight into the IRS’ treatment of these entities:1) Each series within a series LLC will be treated as a separate entity for federal income tax purposes;2) Each series is allowed to choose its own entity classification independent of the classification of other series; and3) Each series should only be liable for federal income taxes related to that series.The proposed regulations do not address the entity status of a series organization for federal tax purposes nor do the proposed regulations specifically address whether each series within a series LLC should obtain a separate employer identification number (EIN) and file a separate federal tax return.Until final regulations are issued, I advise clients to obtain separate EINs and file separate income tax returns for each separate series which, I believe, helps each series maintain separate and distinct corporate identities, thereby reducing the risk anyone may be able attached a judgment to you or another series and pierce the corporate veil.Other ways to minimize the chance that one series may be held liable for liabilities of the entity as a whole (or another series) include the following:1) Create a separate bank account for each series (again, you’ll need a separate EIN to do this)2) Don’t commingle funds within series.3) Always sign documents in the name of the series.4) Properly document all loans between series.5) Conduct all transactions between series in an arms'-length manner at fair market prices using appraisals.6) Keep the assets and operations of each series separate from the other series.