CPA Help! Properties in Multiple States

[Austin Largusa]

Hey Yall - I live in California and own properties in Ohio and Tennessee. Definitely need some help.

Trying to figure out the holding company/land trust/umbrella policy/LLC conversation.

Theoretically, I'm thinking a general holdings company, and then an LLC per state.

Anyone in here who can help? Or refer me to anyone?

[Ashish Acharya]

Originally posted by @Austin Largusa:

Hey Yall - I live in California and own properties in Ohio and Tennessee. Definitely need some help.

Trying to figure out the holding company/land trust/umbrella policy/LLC conversation.

Theoretically, I'm thinking a general holdings company, and then an LLC per state.

Anyone in here who can help? Or refer me to anyone?

An umbrella policy would never hurt as it is so cheap and totally worth it. I pay $23 a month for $1M. Peach of mind. 

Regarding the LLC: Holding company really helps with your tax compliance fees by reducing the filing requirement when you have partners/owners. However, we need to look into each state's rules because states like TN will require you some type of filing even for SMLLC. There is a lot to uncover with more detail.