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Tax, SDIRAs & Cost Segregation

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Tom Fenoglio
  • New to Real Estate
  • Buenos Aires, Argentina.
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CPA & Attorney referreal for out of state investing

Tom Fenoglio
  • New to Real Estate
  • Buenos Aires, Argentina.
Posted Dec 2 2020, 09:17

I will be investing from out of state (I'm from Argentina). I'm looking for an attorney and a CPA who could advise which direction to take with the LLC setup.

I will be investing:

  1. Real estate - I will buy 1/2 rental properties in Columbus, Ohio in 2021. I'm planning to buy 2 more in the next 5 years.
  2. Stocks investments - I will invest in financial instruments through a fiduciary.

What do I need?

  1. LLC setup advice for limited liability.
  2. LLC setup advice to optimize costs and taxes.
  3. Protection in case of death. Configure the best strategy so that a person of my choosing (from Argentina too) inherits the LLC easily.

    Doubts

    1) Should I have a separate LLC for real estate business and another one for stocks? Or is it better to unify both investments in the same one considering that I am not going to operate very large amounts and reduce maintenance costs ?

    2) Which are the costs of setting up an LLC, maintaining it and filing taxes each year? I don't want the yearly cost of the asset protection to turn good investments into bad investments..

    3) How can I deduct expenses from taxes? What documentation should I save? For example: Travels, business supplies (computer, etc).

    4) Ownership succession upon the death of the owner. Maybe include transfer on death language in the Bylaws? 

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