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13 January 2025 | 3 replies
Hi Ricky,Being in operation for 10 years with mid seven figures of assets and NNN leases,it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp or a C-Corp.It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.
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17 January 2025 | 3 replies
The Mexican corporation, generally advised if you buy multiple properties, given the higher costs.
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23 December 2024 | 2 replies
This decision effectively reinstates the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements nationwide, pending the Department of the Treasury’s appeal resolution.Click herefor the full article which includes the new reporting deadlines.
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5 February 2025 | 13 replies
Investors tend to incorporate in either Nevada or Wyoming because the corporate veil is the hardest to pierce in those states.As for market selection, there are great opportunities in the Midwest and Southeast.
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4 February 2025 | 9 replies
Mom and pops have left, the corporations are moving in.If you want to be a landlord, sell it and do your business in a more friendly state.
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6 January 2025 | 5 replies
I'm a small business owner and my partner has a corporate job.
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9 January 2025 | 18 replies
I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children.
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14 January 2025 | 7 replies
@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.
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6 February 2025 | 11 replies
Airbnb and VRBO are popular platforms, and corporate rentals or mid-term rentals like on Furnished Finder could also be an option depending on demand.
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12 January 2025 | 10 replies
Neighborhood revitalization projects, major corporate investments, and an influx of small businesses were all happening at a pace that made it clear the city is on an upward trajectory.From an investor’s perspective, Detroit offers a unique combination of affordability and opportunity.