Business operating entities of choice among Approved America Investment Group are corporations and the hybrid entity called a limited liability company.? The LLC is simply a blended? limited partnership and a corporation.
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Learn The Highlights of A LLC For Real Estate Investments:
? Get Approved! Spotlight On LLCs
? Limited Liability ? The LLC limits your debts and obligations unless you ?personally? guarantee the debt, the LLC commits fraud or you commit malpractice.
? No Restrictions of? Members Like S Corporations? ? You can have as many members as you wish and they can be stockholders also of greatest value they can also be foreign investors.
? All losses and income pass through to stockholders. There is no double tax. Most beneficial business entity for holding real estate. Tax benefits of net operating losses on individual returns
? Higher basis with LLC debts ? The LLC gets the best of being a partnership without any of the drawbacks of a partnership.
? Less expensive to operate and form than corporations. Simply register your articles with the state and you?re up and running. No formal meetings, minutes or member meetings, either!
? Asset protection. Provide in the original formation documents that the LLC can not receive any new members without the consent of other members which effectively locks out creditors who become ?unwanted members? of the LLC when they obtain the stock of any member that they may sue.
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LLCs are best for :
? Individuals who expect to earn more than the social security maximum
? Individuals who need liability protection but can?t qualify as an S corporation
? Businesses that do not accumulate capital for inventories or marketing
? Real estate businesses
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Disadvantages of an LLC:
? No savings on social security taxes
? More paperwork that may be complicated. Some states have a special LLC income tax. Articles will have to be filed in the state in which it is formed.
? Some states have lifetime limits for LLCs regarding how long they can be formed usually within 30 years or less that they be terminated.? Which is not true in Nevada.
? May require two or more members. Problems arise if you form a one member LLC but operate in states that don?t recognize a one member LLC.
The best advisement is to seek wise counsel from an Approved America Investment Group tax professional and corporate attorney to choose the best entity for your investment business.
Additional preferred methods for holding assets utilized by Approved America Investment Group are the Irrevocable Trust or an Intentionally Defective Irrevocable Grantor Type Trust.
Contact Approved America Investment Group to learn more about asset protection from creditors and incorporating your business effectively. ? Get Approved. Receive a roster of our preferred member professional estate and tax planning professionals and our member estate, corporate and real estate attorneys.? http://www.approvedamerica.com/contact.php
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Source: http://approvedamerica.com/blog/2011/10/06/approved-america-investment-legal-entities-spotlight-llc/
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