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Hello BP, another obvious & dumb question that i cannot came up with the answer at the moment.

If i want to know about using a "Trust" & "LLC" for property investment who do i seek?

Do i need to hire 3 different CPA because one for the Trust's Beneficiary LLC, One for the holding LLC and one for the Operating LLC?

Does a CPA or a lawyer know more on how to properly structure these entities? 

@Dante Goh good question. One CPA will do, no need to hire multiple. The people who hire multiple CPAs have millions in net worth or are running big businesses.

A CPA will advise you on the tax and accounting side of the structure whereas a lawyer will advise you on the legal and liability side of the structure. It's generally a good idea to utilize both a CPA and a lawyer to ensure you are receiving holistic advice.

Thank Brandon. So 1 CPA & 1 lawyer. Just how many LLC can a CPA &/or Lawyer handle?

Originally posted by @Dante Goh :

Thank Brandon. So 1 CPA & 1 lawyer. Just how many LLC can a CPA &/or Lawyer handle?

The question isn't "how many can the professionals handle?" The question is: how many can you handle?

You need to treat each LLC like a business to avoid the famed "piercing of the corporate veil." Each LLC needs its own bank account, debit/credit cards, contracts, books, etc. When you have many LLCs, it's inherently harder to treat them like a business.

Lawyers love setting up multiple LLCs because they get paid per LLC. CPAs will like multiple LLCs because at some point your books will become too much to handle and you'll outsource your accounting to your CPA.

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