.- Agent/investor-friendly lender/CPA/title.

That way, they share in the profits directly, which avoids complications like this.It’s definitely a good idea to check with your CPA to ensure your entities and agreements are structured correctly, this scenario comes up more often than you’d think.

Each path has pros and cons depending on your goals, timeline, and how you plan to reinvest, so it’s worth modeling out each scenario with your CPA and finanical advisor.Good luck with navigating your options and potential sale.

This can help you maximize your deductions.A CPA can help model out which approach gives you the best benefit based on your income and goals.

This post does not create a CPA-client relationship.

And definitely get a plan with your CPA from the start to make sure you're being tax-efficient when making these transitions.

It will take some work; you'll need to plan ahead, structure things right, and make sure that it makes sense with your entire financial picture.The best move for families in this situation is to review the tax transcript early and work with a CPA and title professional who can confirm the lien’s status before listing or transferring the property.

I've been advised by my CPA that this may be risky because how much can you really pay your kid to clean their room, put away the dishes, etc? 

It’s especially helpful if you want to pull statements that give you a clear financial snapshot of your LLC, which is exactly what you’re looking for.However, I’d also highly recommend working with a bookkeeper who’s familiar with real estate and who your CPA trusts or maybe even your CPA firm if they have this service.

Thinking ahead and planning with a CPA is key and can help you strategize, save, avoid surprises, and even reinvest if you want!