What You Should Know about the Legal Side of Entity Structuring
Thursday, August 29
When choosing an entity for your real estate investment, you must understand the legal issues involved, so you can protect your assets. We have already explored the tax implications of entity structuring. In this article, we will look in depth at the LEGAL side of entity structuring, Land Trusts ...
Choosing the Right Entity for Your Real Estate Investment
Thursday, August 01
“THE TAX SIDE OF ENTITY STRUCTURING” There are three main aspects of entity structuring: legal, tax, and compliance. The goal is to find one that meets all three criteria. One size does not fit all. Structures can be changed. · Ease of compliance – What are the compliance requirements? – annual f...
Why You Should Set up Solo 401k
Thursday, July 25
What is a Solo 401k? A Solo 401k is a great retirement plan for self-employed individuals or business owners with no employees or part-time employees only. Business types such as sole proprietorships, family businesses, partnerships, and corporations can take advantage of what the Solo 401k has t...
Ten Reasons NOT To Use Corporations for Real Estate Ownership
Thursday, July 18
Why use an LLC partnership instead of a Corporation? LLC partnerships avoid the following corporate disadvantages by default (automatically); by election; or by planning. When referring to a partnership the term “partner” includes a member of an LLC or more specifically of an LLC partnership. S...
Pre Audit Preparation Tips
Thursday, February 29
Everyone should do their utmost to prevent an audit on their taxes, but you should always be prepared for an audit. The best way to increase your chances of coming out of audit unscathed is to keep excellent records. The IRS will not take your word as proof of anything, so it pays to have as much...
IRS Audit Prevention Tips
Thursday, February 08
There are many ways to reduce your chances of being audited by the IRS. As we’ve discussed in previous articles, the IRS has red flags for certain industries and tax filing behavior. Unfortunately, real estate investors and business owners stand a far greater chance of being audited than their sa...