Disregarded LLC for Real Estate Investing (What does it mean for Real Estate Investors?)

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Clint Coons Esq. | Real Estate Asset Protection

Күн бұрын

Disregarded LLC vs. Partnership LLC, what's the difference, who qualifies for each, and which one works best for you. In today's video, we will be breaking down important information you need to know if you wish to pursue either of these.
Learn more about how to become anonymous AND appear as if you own nothing at our next Free Tax & Asset Protection Workshop. Save Your Seat: aba.link/6k7
Details surrounding these titles are vital to understanding as they make a huge difference in how you file your taxes.
We will be going over our reasons for selecting either a Disregarded LLC or a Partnership LLC, as each comes with advantages and disadvantages.
Be sure to watch the video till the end to get the most out of our content. If you enjoyed the video, then like and subscribe for more great videos.
Also, don't forget to reach out with your questions!
Want to make use of the advantage of a Disregarded LLC for Real Estate Investing? Tune in, as we discuss how it can be advantageous for Realtors. Plus, get to know its some unique tax attributes that make them ideal real estate ownership vehicles.
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#llc #investing #business

Пікірлер: 137

@ClintCoons 5 ай бұрын

Learn about Real Estate & Asset Protection from Clint Coons, Esq. and Toby Mathis, Esq. at our next all-day free Livestream 9 am to 4 pm PT. on Saturdays. Our attorneys and specialists will answer ALL questions: 👉 Save Your Seat: aba.link/6k7

@mdrservicesllc298 10 ай бұрын

Hi Clint! I love your style of teaching, & you are very thorough with everything you explain. Thank you for making such great videos. I have a question. I have several residential properties in AZ all under separate single-member LLC’s. I’m very interested in starting an LLC in WY to act as the member for each property. Can I use the the same LLC in WY to act as the member for each of my LLC’s in AZ? Would one LLC as member in WY suffice, or do the members of each LLC need to be different? Thanks Clint! Mike

@ClintCoons 10 ай бұрын

One LLC is sufficient.

@sachastayswi Жыл бұрын

Hi Clint. Thank you for the content you are creating. What would you say is the better LLC structure for flipping land: series LLC or disregarded entity? Thanks!!

@ClintCoons Жыл бұрын

I would look at an LLC taxed as a corporation. I don't see much liability with flipping land (unless you are doing entitlements) so I don't think you need to adopt the same strategies we use for flipping homes.

@organizer14 3 ай бұрын

The “safe” LLC you also recommend disregarded right? Where does it show up in the individual’s tax returns?

@ClintCoons 3 ай бұрын

It doesnt. A disregarded LLC will not file a tax return.

@autumnleaves6383 2 жыл бұрын

You are the man!! You made it simple and to the point.

@ClintCoons 2 жыл бұрын

Thanks

@LAKitchen 2 жыл бұрын

This was so informative!! Thanks Clint!

@ClintCoons 2 жыл бұрын

You are welcome. Thanks for watching.

@earth2survival922 2 жыл бұрын

I like your channel and I feel you are one of the more honest and knowledgable KZfaqrs but the issue is finding someone to do the Real Estate deal under the LLC. I called quite a few agents who don't have a lender to deal with that. A cash deal yes, but not financing.

@ClintCoons 2 жыл бұрын

Yes that is a challenge when purchasing residential real estate. A community lender may be more appropriate if you are looking to close in an LLC. Typically I will close in my own name then transfer the property to an LLC (for residential deals with financing).

@Glow0110 Жыл бұрын

What if you have a business partner and you want to have an operating company that offers home services such as construction as well as a company that buys and rents real estate? What would be the best way to set this up? The goal is to leverage debt to pay 0 taxes legally and to also remain completely anonymous to avoid any liability. Thanks for any insight you are willing to share. Really appreciate your videos big time!

@ClintCoons Жыл бұрын

There are a few different ways to set up a business like this. It really depends on your specific goals and what you want to achieve. Generally, I would set up an LLC with corporation tax status for the construction company and WY LLC (holding company for anonymity) with a state-specific LLC for the real estate.

@Glow0110 Жыл бұрын

@@ClintCoons Thank you very much for the reply. So Wyoming LLC as holding/parent company, then have child companies owned by the holding company: one construction company as a corporation (would this be in the state I live and operate in or also in Wyoming?), and then a state-specific LLC for each of the real estate projects.

@ClintCoons Жыл бұрын

@@Glow0110 The construction entity will be in the state where you reside and conduct business. It will not be tied to your real estate holding LLC.

@jakesummers4407 2 жыл бұрын

Great presentation. Thank you.

@ClintCoons 2 жыл бұрын

Glad it was helpful!

@alliesteamc3546 2 жыл бұрын

Very helpful, thanks very much! Can your own c Corp or a land trust be one of the 2 members of a LLC taxes? Thanks!

@ClintCoons 2 жыл бұрын

Yes, absolutely

@sakis9767 2 жыл бұрын

Hi I am a CA resident have some rental properties in CA .I want to buy a rental property in PA what kind of Llc structure should I follow

@ClintCoons 2 жыл бұрын

If you are buying for cash then I would use a PA LLC but if you are financing I would suggest you set up a strategy session to discuss how to handle the transaction.

@prisciliatsongwain5071 2 жыл бұрын

Hi Clint, thanks so much for this, it is very educative. I have a question- I live in Texas & I own 1 rental property & intend on getting more. However, I do not have a holding company. What do I do as far as where to create a holding company, having a partnership and minimizing taxes? Thank you

@ClintCoons 2 жыл бұрын

I prefer to set it up in WY for anonymity and enhanced asset protection. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

@bartman011bm 2 жыл бұрын

Clint, do a video on using two entities as a partnership.

@ClintCoons 2 жыл бұрын

Can you give me a bit more to go on I.e., what would you like me to cover.

@alliesteamc3546 2 жыл бұрын

Another topic: as a general partner of a LP or manager managed LLC, how to best protect yourself as the manager of a LP or LP?

@ClintCoons 2 жыл бұрын

The GP should be an LLC or Corporation.

@daslick1432 2 жыл бұрын

Awesome stuff!!

@ClintCoons 2 жыл бұрын

Glad you think so!

@DanAtEXIT 2 жыл бұрын

Good stuff 👍

@ClintCoons 2 жыл бұрын

Thanks 👍

@projectinfo11 2 жыл бұрын

Clint thank you for such informative videos. I have watched a lot of your videos where you have discussed which states should one have an LLC for better protections etc. one question that i don’t have an open view on is being a CA resident and own rental property in CA can i still register my LLC outside of CA (say WY) and have the CA property under this WY entity? Thank you again for such amazing work on KZfaq.

@ClintCoons 2 жыл бұрын

Yes but you will need to register your WY LLC in CA so I do not see any benefit. Possibly consider using a WY Statutory trust in lieu of an LLC if you want to avoid the CA franchise fee.

@user-hz5xw6wb7s Жыл бұрын

Hi Clint, Can you answer my question? I bought a rental property after I establish llc. So my llc has a rental property. I am planning to sell it after I live for 2years after transfering ownership to myself. In that case, Can I get sale tax exclsion benefit fully by 50,0000? Disregard Entity or partnership can affect any eligibility for this benefit? Look forward to hearing your feedback. Thank you !

@ClintCoons Жыл бұрын

If it is disregarded it will not affect your exclusion if you meet the requirements and live in the house for 2 years.

@maneeshjulka 2 жыл бұрын

Hi Clint, Thanks for sharing the information. Question - Got a few paid-off rentals in Florida, all are in one LLC that has me and my spouse as partners. The local lawyer suggested creating a separate LLC for each property and then put all LLCs in a holding company. What would be your suggestion? I understand from asset pro it's a better way but what type of structure should this holding company be and then further into estate planning structuring for tax purposes. Thanks again

@ClintCoons 2 жыл бұрын

Yes this would work. Do you ever plan to cash out refi any of the properties? If so then I would use a land trust in your situation with a holding LLC as the beneficiary and a second LLC serving as the trustee. Either way, if set up properly, you should obtain the protection you are seeking.

@mr.barksdale1933 Жыл бұрын

Great content! I have a WY holding LLC from when I started out in real estate, which is the Member for my NC LLC for residential rental real estate (and I am the manager of the NC LLC). As I have grown, I want to amend the structure, and I would like for the WY LLC to go from being a disregarded entity single member LLC, to a partnership LLC. My questions are - can I add another WY disregarded LLC (which I am the single-member) to my current WY holding LLC and successfully obtain designation as a Partnership LLC? OR, for the partnership to be valid and recognized as such by the IRS, is it required that the partner is an entity or person which is NOT another single member disregarded LLC which I am the owner?

@ClintCoons Жыл бұрын

Yes you can. Make a change of accounting election in January to elect partnership tax status. All you will need is a second partner. The second partner only needs a minimal interest and the partner can be any person or business entity other than another disregarded entity you own.

@daveandaya4626 2 жыл бұрын

Hi Clint thank you to clarify my previous questions. I have follow questions, my new current LLC formed and registered as solo member even EIN from IRS , how this my current LLC will turn into partnerships? What documents do I have to make to add my spouse as member? Thanks!

@ClintCoons 2 жыл бұрын

You need to amend your llc operating agreement and make a change of accounting election with the IRS. It is best if you work with a tax advisor to make sure you handle it properly. It really comes down to filling the right tax return at the end of the year 1065

@LivinginBirminghamAlabama 2 жыл бұрын

Great info

@ClintCoons 2 жыл бұрын

Thanks for watching!

@JtotheRizzo 4 ай бұрын

Thank you Clint. Is it ok to have this WY LLC/Partnership own majority ownership (99%) in my active business entities which are NY LLC/S-corp for the same reason the WY LLC/Parrtnership would the rental property disregarded entities (i.e. reduce number of tax returns). Or should I keep my NY LLC/S-corp separate and in my own name? My active business under the NY LLC/S-corp is real estate broker and wholesaler. Thanks again!!

@ClintCoons 4 ай бұрын

I like to keep active businesses separate from the holding company. Also an S-corp can not have a partnership as an owner.

@JtotheRizzo 4 ай бұрын

@@ClintCoons Thanks again!

@buzybill Жыл бұрын

Nice one Clint! If I have Wyoming holding LLC with disregard LLC for each property with the state the property is located. Do I need a checking account for every one of the disregard LLCs?

@ClintCoons Жыл бұрын

Not necessarily. Check out this video: kzfaq.info/get/bejne/gdGbmMec1dOnopc.html

@titoleokusinero1253 2 жыл бұрын

Hi Clint. Im planning to buy a multifamily house for rental while I’ll live in one of the rooms. Is it best to apply for a conventional loan with the bank first, then transfer the property to my LLC? Thanks in advance!

@ClintCoons 2 жыл бұрын

Yes. If you try and purchase with an LLC you will limit your options to portfolio lenders and even then you may find it more difficult e.g., higher interest rate, more down.

@bz7403 2 жыл бұрын

Thanks for the great videos. What about spouses 50/50 partnership LLC’s in California community state? Can we have a choice to elect partnerships LLC or must consider as disregarded ? Thanks

@ClintCoons 2 жыл бұрын

Yes you can elect to be treated as a partnership in a CP state.

@veronikao3276 2 жыл бұрын

Really great content. I'm trying to find a video on opening bank account with disregarded LLC status, which banks don't recognize. Do you have one?

@ClintCoons 2 жыл бұрын

Yes I have one. Search for bank account on my channel.

@pandageorge3293 2 жыл бұрын

Hi Clint, If having my Wyoming LLC owns my Georgia State LLC for example, do i need to register Wyoming LLC to operate business in the State of Georgia considering it’s the Parent Company of my Georgia LLC? What’s the tax implication then? Thank you & Love your channel!!

@ClintCoons 2 жыл бұрын

No because the WY LLC is not conducting business in GA.

@kevinwilson1218 2 жыл бұрын

what are the advantages of the Wyoming LLC

@ClintCoons 2 жыл бұрын

Charging order protections, anonymity, serves as a holding company for consolidation of interests, in addition to the other ones mentioned in the video.

@joerehm4783 2 жыл бұрын

Hi Clint, I am brand new to owning a business. I live in NV and I am thinking about starting an LLC in order to purchase some small plots of land, or existing businesses eventually, that I can then develop or convert over to entities that focus on green energy initiatives. I don't have any start up money, but I can afford to at least pay somebody to help me set up an LLC of some sort and then, hopefully, raise start up capital via crowd funding or other sources that will allow me to purchase these assets. So far today I have watched about 6 or 7 of your KZfaq videos and they are very informative and helpful. I am just wondering if you can point me in the right direction? Thank you.

@ClintCoons 2 жыл бұрын

If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

@adam25352 Жыл бұрын

Hi Clint - thanks for creating these awesome videos! If I may ask a quick question - I have set up a Partnership LLC (Manager Managed) in WY, of which we have an EIN. We have also created a Single Member LLC in SC for mine and my business partner's properties. Will I need to have a new EIN for that SC entity? Especially if I will be trying to set a bank account for that SC specific LLC.

@ClintCoons Жыл бұрын

Yes you do

@zumba2party 2 жыл бұрын

Hi Clint . I am investing with partners and one of your advisors told me to open a Wyoming LLC with my husband ( manager managed ) and disregarded , and the texas LLC for the property with my friends, member managed ( the members are the Wyoming LLCS for each investor , and partnership ) So the question is if I keep buying with my fiends , that is the only way ? Each time one diferente LLC taxed as partnership ? And the Wyoming LLc with my husband disregarded?

@ClintCoons 2 жыл бұрын

Hmm. If you plan to invest with the same friends and will have the same ownership in all deals I would set it up as follows: WY LLC for you and your husband. Friends set up the same. Together you will hold an interest in a TX series LLC (parent) that is treated as a partnership. The TX series (parent) will be owned by your WY LLC and your friends WY LLC. The TX series LLC will create a new cell for each investment. The cell will be owned 100% by the TX series (parent).

@ezegqfouru2018 2 жыл бұрын

Saved by this video

@ClintCoons 2 жыл бұрын

Great. Thanks for watching.

@ediethesalsafreak 2 жыл бұрын

Great video Clint! When I have a Wyoming partnership LLC, do we set up our bank account in Wyoming? Or can we do it in our own state?

@ClintCoons 2 жыл бұрын

Own state but you must provide a local address to the bank.

@kenzhukov3853 2 жыл бұрын

Great information! Thanks Clint! A C corp election for holding llc (IRS form 8832) must be filed every year or good 'till...Also, In same scenario, SM WY holding LLC treated as C corp by IRS files annually or quarterly? I see an advantage in some cases to file as C-corp status due to separation of assets and fringe benefits to owner of C-corp llc unless there's major bookkeeping CPA / Legal/State fees. (SFR rentals in NY/PA SM S-LLC, ShortTerm rentals in same states SM S-LLC)

@ClintCoons 2 жыл бұрын

The election is good until changed. The LLC electing C-Corp status will file annually (1120). You may have quarterly taxes based on your income.

@nicolepoquiz756 2 жыл бұрын

Thanks for the great content! So if the Wyoming LLC is taxed as a partnership, and owns LLCs that are disregarded entities in Missouri and Oklahoma, what happens to the state tax returns? Since the disregarded LLCs dont file tax returns, does that mean the Wyoming LLC will file state returns in MO and OK? Or will the state break-down be noted on the K-1 and just go straight to the partners individual tax returns?

@ClintCoons 2 жыл бұрын

The disregarded LLCs will file state tax returns, not the holding company.

@HaileAlexis Жыл бұрын

I thought disregarded LLC don’t file?

@waltergalaga3379 2 жыл бұрын

Hi Clint, I'm living out of the US but I'm planning to move to New Mexico, and I like to know if I can register a Wyoming LLC that may be owner of another LLC registered in NM, ... I want veil... The NM LLC would be the operative business... So I Will need a registered agent in Wyoming, and... Another question, with the WY LLC could I co-own another LLC, ok, let me explain: my disregarded LLC from WY and another disregarded LLC can own an LLC in common, is this possible to do? Thanks a lot!

@ClintCoons 2 жыл бұрын

Everything you mention is possible and fairly standard. In the first question you would not need to register the WY LLC in NM if it is owning a NM LLC that is conducting business in NM.

@waltergalaga3379 2 жыл бұрын

@@ClintCoons Oh thanks sir! Thanks a lot, I've watching your videos, I'd like to work with you in the future 🙌🏼💯

@fragout9575 2 жыл бұрын

Hi Clint, my question is this: does it make sense to set up the Wyoming LLC prior to setting up the LLCs that will be owned by Wyoming LLC?

@ClintCoons 2 жыл бұрын

If you want to create a structure with anonymity then the answer is Yes you must set it up first.

@isd605 2 жыл бұрын

Clint, should I have a business checking account for each LLC? 10 houses, 10 LLCs, 10 Checking accounts?

@ClintCoons 2 жыл бұрын

Yes and no. I will depend on how the properties are managed and do you have a holding LLC. I will cut a video and post it in 3 weeks. Thanks for the idea.

@rcruz401 2 жыл бұрын

My Holding Company which is a Partnership was just filed with the IRS and is showing a negative return for the year because of all expenses and to offset whatever I might owe to the IRS. My question is, will that help me or hurt me to be approved with a fannie or freddy loan?

@ClintCoons 2 жыл бұрын

Hard to say. If your losses are the result of real estate then most likely it’s not an issue but if it is an active business then yes it could. What does it hold I.e., what activity is it engaged in through the upper level LLCs?

@catracho1316 2 жыл бұрын

Thank you so much for the video. Can my wife and I apply for a diregarded series LLC as a sole owner? Or are we forced to go with the Partnership LLC route?

@crazycdn8327 2 жыл бұрын

Two or more people = partnership. 1 person (or one LLC) = disregarded. If one of your names is not on the LLC then you can do disregarded.

@catracho1316 2 жыл бұрын

@@crazycdn8327 thank you so much for the clear explanation. I appreciate it.

@ClintCoons 2 жыл бұрын

@catracho1316 It depends on the state where you reside. If you live in a community property state, then yes, you can elect to be treated as a disregarded entity; if not and you desire this tax status consider using a living trust to hold your interest. The living trust would be a joint living trust between you and your wife. There is always a solution - well, almost. :)

@Bennuides 2 жыл бұрын

Hey Clint, could I do a disregarded single member LLC and have my Wyoming LLC own it to escape the franchise board $800 fee? The WST strategy worries me if they change the law in the future. I only want it to hold my property it’s not going to do anything else.

@ClintCoons 2 жыл бұрын

You can not. Both LLCs will be subject to the fee.

@Nick-hc8ts 2 жыл бұрын

Hello Clint awesome video sir 👍 I just subscribed to your channel . I had question for you …I live in California and I’m looking to buy our first residential Real estate in Texas most likely a 150k property to rent out and I would be doing it with another person that also lives in California. So from what I watched we would set up a Wyoming llc as a partner ship then set up a disregarded Texas llc that’s owned by the Wyoming llc correct? If we were going to put down 20% on the home and still try and go traditional loan would it be best to buy it in one of our names then transfer it to the disregarded Texas llc ? In the seller agreement we just have to put Whoever’s name and disregarded entity correct? Therefore the Mortgage would stay under that persons name but would be owned by the Texas llc after transfer ? Is that the best route ? Any help or advice would be highly appreciated !

@ClintCoons 2 жыл бұрын

Nick how many investments do you plan to make in Texas? If more than one, you might consider a Series LLC and after you purchase the property, transfer it to a cell. Another consideration would be a Wyoming Statutory Trust in place of the LLCs. The WST is not subject to CA franchise tax of $800 that applies to any LLC you own and control whether or not it is located in CA. Lots of options depending on your plans. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

@Nick-hc8ts 2 жыл бұрын

@@ClintCoons Thank you for responding to my message so fast I highly appreciate it . At first it’d be one property to test the waters then over time more then likely use some of the built up equity to buy another property. So at first it’d be one initial property to see how it all works/learn in the process . I’m really just trying to get our foot in the door and test the waters of being a real estate investor. Thank you for the information as well and the link I will be talking to my partner to discuss options/ calling you about a constellation.

@Vivacemalt 2 жыл бұрын

So the 8825 from my disregarded LLC does not go to the IRS when I send the 8825 for the partnership which owns it? Correct?

@ClintCoons 2 жыл бұрын

Correct. The 8825 comes from the holding LLC taxed as a partnership.

@daveandaya4626 2 жыл бұрын

Hi Clint! Is great this video is one I been waiting for because it’s exactly my Situation now then I have to decide. In this video you recommended to choose partnership instead disregard for tax purposes? I formed my LLc as solo member so far and because I’n not experienced I forgot to put my wife as member, is there is any way to revised it? Please advise , thank you

@crazycdn8327 2 жыл бұрын

Did you watch the video? He actually covers it. I'm sure if you want more information he will be happy to help you for his standard fee. He gives away enough free information as it is honestly.

@daveandaya4626 2 жыл бұрын

Yes I watched the entire video but is not totally clear to me what is the best , disregard or multiple members( separate taxes)? Any information or link how you guys can help?

@crazycdn8327 2 жыл бұрын

@@daveandaya4626 He says right in the video you can change between the types freely and from the sounds of it at anytime (though around tax season might not be the best time). If you do a partnership though, you will likely need a CPA.

@ClintCoons 2 жыл бұрын

If you have one property it will not be that much of a concern but when you begin to accumulate more then you should consider using the holding LLC. The holding LLC will be a partnership and the property owning LLCs will be disregarded.

@daveandaya4626 2 жыл бұрын

Thank you Clint very helpful information, i I have one property last year tax but this year I have 3 added property then I just formed LLC at the same time solo member. I forgot to put my wife as member which is written in the deed as co owner.

@keba15 2 жыл бұрын

What if you plan to have multiple rental properties but don't want a partner. Is it ok the have multiple s-corp LLCs when you are the only member? What to you suggest the change your disregarded LLCs to?

@crazycdn8327 2 жыл бұрын

Enjoy those huge CPA fees. You don't want s-crops to own real estate. He's covered this in other videos I believe.

@ClintCoons 2 жыл бұрын

I will typically set up separate LLCs for each property treated as disregarded entities. The holding LLC will be a partnership, not an S-Corporation (negative tax issues - I will post a video on this). To find the other partner you will need for the partnership tax status; I prefer to set up a management corporation (LLC) that will serve as my other partner. For example, you set up Blue Aces, LLC (taxed as S or C corporation) to manage your real estate LLCs. You make Blue Aces, LLC a 1% member, with you as a 99% member, in your holding LLC, and now you have a partnership.

@1_South_Business_Services 2 жыл бұрын

Hi 😊 If you work as a independent contractor (1099) can you place that income no matter what the service you're providing) into your business (LLC) checking account as cash flow under the LLC?

@ClintCoons 2 жыл бұрын

It is possible if your LLC is set up for the business you are describing. You can have the 1099 income run to the LLC directly or, if it runs to you then you will need to 1099 your LLC the money you pay to it. This would only make sense if your LLC was treated as a corporation for tax purposes (C or S)

@1_South_Business_Services 2 жыл бұрын

Multiple streams of income from cutting grass, one vending machine and the 1099 is a nursing agency I work sometimes as a independent contractor. My business is set up just as named LLC for investments in Virginia that may also include real estate once I purchased a property to rent or flip, a tax lien property or foreclosure. Can it all be under one LLC?

@ClintCoons 2 жыл бұрын

@@1_South_Business_Services You would want to keep the active side of your business separate from the real estate investing side. Thus, you should consider separate companies. Yes, you can set up one LLC to engage in different activities as you describe provided your state law allows for it, I.e., the nursing aspect may complicate running the vending and grass cutting in the same entity.

@Alex718GTS4.0 2 жыл бұрын

Hi Clint, my wife and I are CA residents and accredited investors. We want to start investing passively in syndication deals in multiple states. How should we structure the holding entity as the subscribers to the deals? We recently opened a CA LLC (Partnership), but have not subscribed to any offerings under it. I am wondering if we should continue forward or go another route. Please advise. Thanks

@ClintCoons 2 жыл бұрын

I typically recommend using one disregarded WY LLC to hold your syndications.

@ljf8826 2 жыл бұрын

How does a disregarded LLC protect assets in a lawsuit where a judgement creditor can take almost everything owned by the individual as well as take assets of the disregarded LLC that is also owned by that individual?

@ClintCoons 2 жыл бұрын

Depends on state law. If the state limits the creditor's remedy to a charging order then he would be stuck. This is why it is important to know the state law remedies available to creditors of a LLC.

@Bennuides 2 жыл бұрын

Hey Clint, can a disreguarded entity apply for credit cards and loans?

@ClintCoons 2 жыл бұрын

Yes but if will most likely be on your credit.

@AberrantArt 2 жыл бұрын

Wouldn't the WY LLC be S-Corp so you can recieve manager fees and dividends?

@crazycdn8327 2 жыл бұрын

And get his with a much bigger tax bill, and CPA fees, sure.

@AberrantArt 2 жыл бұрын

@@crazycdn8327 can you please elaborate on that. How does the S-Corp incur higher taxes? Or I guess on the flip side, how does disregarded entity offer less taxes?

@ClintCoons 2 жыл бұрын

No. The S-Corp can create some issues for holding investment real estate. If you want to create a management entity then you could set it up as an S or C corp

@joycebarnett6035 2 жыл бұрын

If you get an llc in Wyoming and you don’t live there then you now have a foreign llc therefore you have to register a foreign llc in your state you live in so now you have two yearly fees. The benefits may not hold up in a court of law now.

@ClintCoons 2 жыл бұрын

The WY LLC would not be filed in another state so you will not have a foreign registration fee. A WY LLC need only be registered in a different state if it is doing business in that state. I have a video discussing this topic. You are correct that foreign filing your WY LLC will blow any benefits of having a WY LLC.

@joycebarnett6035 2 жыл бұрын

@@ClintCoons it’s all very confusing I have an apt with your company maybe they can explain this to me.

@ClintCoons 2 жыл бұрын

👍

@minghiy 2 жыл бұрын

Great video. I now finally understand the disregarded LLC. Would this work for a different business strategy like say, I buy a few cars and rent them on the car sharing platform Turo.

@ClintCoons 2 жыл бұрын

Yes it will

@donttasemebroseph 2 жыл бұрын

Great video Clint! I've called a dozen different estate lawyers and I can't find anyone to answer this question. If I title my personal residence in a trust, with a disregarded LLC as the grantor and my personal name as the trustee, will I still qualify for the primary residence capital gain tax exclusion? In that same example, if another trust or an LLC is used as a trustee, would that disqualify me from the primary residence capital gain tax exclusion? Cuz it would really suck if five years down the road I got all the Privacy from putting my property in a trust but I sold it and had 250,000 dollars in capital gains but I had to pay taxes on those because the property was technically owned by that trust and not me.

@ClintCoons 2 жыл бұрын

No provided you are the beneficiary of your trust and the house is carried on your tax return as your residence and not an investment property.

@joycebarnett6035 2 жыл бұрын

Where are you located?

@ClintCoons 2 жыл бұрын

We have offices in WA, NV, WY, and UT

@1_South_Business_Services 2 жыл бұрын

@ Clint My ultimate question is would it be illegal to put money in a business ( set up for the one LLC for investing) checking account from the other income? I was told that you could put money into the account but you can't take it out. Is it illegal to put money in a business ( the one LLC set up for 1Southgate Investments because it doesn't say it's just for ONE TYPE of investment) checking account from any other income? I was told that you could deposit but wouldn't be able to just go make a regular withdrawals. l am trying to build business credit and does it help to have cash flow in a business checking account? I may need to have a consultation with you. If you're available what is your fee?? I can be reached by phone or email.