The CRT is a very powerful estate planning tool that may enable you to reduce your liability for income and estate taxes, protect your assets AND diversify your assets in a tax-advantaged manner.
Many parents and grandparents don’t realize how creative they can be in distributing their assets to their children upon their passing. They think it’s only for rich people and it’s an expensive process with high-powered attorneys. That’s certainly not the case…anybody can control their kids from the grave with unique trust provisions. You’ll love it.
This has to be one of the most under utilized tax strategies by small business owners with families today. Many don’t realize that paying their children under age 18 is an excellent strategy to minimize their tax liability, not to mention it creates a host of other ancillary benefits.
There are several strategies on how to maximize the write-off and make sure you stay in good graces with the IRS as well as saving the maximum amount in taxes
I truly believe that an LLC for every rental property isn’t needed for the far majority of real estate investors. It’s expensive, cumbersome and provides nominal benefit when there’s not a lot of equity in their rentals….yet!!
Single-Member LLC’s have their place in the spectrum of business entity choices, and whether such an entity is right for you will depend on the details of your own personal situation.
Having a Board of Directors or Advisors will be a ‘support team’ in many ways; giving encouragement, advice, and guidance regarding your vision and goals.
The U.S. tax rules that apply to ownership and dispositions of U.S. real estate by foreign persons are different in some important respects from the rules that apply to U.S. persons. Also, property managers are under special rules when managing property for foreign owners, and sellers to foreign investors can be classified as withholding agents (which have important obligations and liabilities associated with the classification).
More and more real estate investors are adding ‘short-term rental’ properties to their portfolios and with a lot of success. However, many still have questions about where to place them in their tax and legal structure.
As we have been working through tax returns for clients this tax season, it’s alarming to see how many clients aren’t maintaining their checkbook properly, or not even having a separate checkbook at all for each of the companies they own and operate.
When it comes to these ever increasing expenses and strategies to make us more successful in our business, we should be looking for ways to deduct them.
It’s scary for many of us to think where our address is posted publicly and how easy it would be for someone to find it.
