Since it's tax season...
I reached out to one of the top Real Estate
CPA's and attorney's in the country, to come
share with you everything you need to know
about creating an "Ironclad LLC"...
That saves you MORE money, and protects
your assets better than you thought possible...
Our guest expert has been a certified CPA,
for over 15+ years, and specializes in
real estate taxation and wealth protection.
One of the things we plan to teach you
are the differences between...
- Sole Proprietorship
- S-Corps vs. C-Corps
- Partnerships
- LLCs
You'll be glad you did.
Good Investing,
Frank Chen
PS - If you already have an LLC, or plan to
create one this year, here are some things
you should know...
First, many attorneys, non-Real Estate CPA's
and others who form LLC's, use barebones,
boilerplate LLC documents - which are USELESS!
Consequently, there's a good chance your LLC
is setup and operated WRONG, because
these poorly documented LLC's...
1) Do not shield you, causing your personal
assets to be totally exposed. You therefore
are not protected from legal actions (when
you should).
2) Do not save you in taxes (when they should).
Having certain Tax Elections and Tax Matter
in the operating agreement and other LLC
documents can generate for you, yearly tax
savings you didn't even know about.
3) Do not defend you against IRS (when
they should). IRS auditors typically
examine LLC legal documents to see if
they support tax deductions and strategies.
If they don't, you are out the deductions
and A LOT OF MONEY!
4) Do not prevent legal disputes with
partners or others (when they should).
Having the proper language would do
this and save you from costly lawsuits.
5) Do not give you important operating
guidelines for successfully running your
business (when then should). LLC docs,
(esp. the operating agreement) should
also be your roadmap to help you implement
a profitable real estate business.
On a side note...
Nothing to do with LLC's, but a friend to REIClub
named Jason Lucchesi has a new book called
"Flipping Out Over Probates".
100% of profits from book sales go to
"Beat Kid's Cancer" and the "Veteran's
Best Friend Indiana".
Please go check it out...