All Forum Posts by: Henry Le
Henry Le has started 7 posts and replied 43 times.
Post: Transferring money into a LLC
- Investor
- Mclean, VA - Virginia
- Posts 43
- Votes 8
Many thanks! The explanation did make things clearer. I will absolutely seek guidance before making any decisions!
Another question if you don't mind. If I have a holding company LLC with multiple subsidiaries LLC, can the same concept still apply? For example, can I use an owners contribution account to record the deposit for the holding company. And then use the holding company account to make deposits for the subsidiaries? Will the IRS consider the holding company a disregarded entity if I'm the single member? The holding company would be the single member for the subsidiaries. Thanks again.
Post: Bubble?
- Investor
- Mclean, VA - Virginia
- Posts 43
- Votes 8
The home prices in my area aren't at the 2008 peaks yet. However, the gross rental yield if you were to buy a house outright here is about 5%. 2 years ago the rental yield was about 12%. Also, I believe the average replacement cost for a house in Elk Grove, CA is $100.00 per square-feet and houses are selling for $140.00 on average.
Post: Transferring money into a LLC
- Investor
- Mclean, VA - Virginia
- Posts 43
- Votes 8
Hi everyone! I've been a long time lurker and first time poster. This question has been on my mind lately and I hope someone can help clear things up.
Let's say I have a LLC established and I want to transfer funds from my personal bank account to the LLC's bank account to buy properties. Funds from my personal bank account will be earned income from my job. Will I have to pay a gift tax if the amount exceed the allowable gift amount? Since a LLC is treated as a separate entity, how is transferring money in and out of a LLC viewed by the IRS?
Thanks! =)