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In this video, I break down the essentials of setting up a limited liability company (LLC) for real estate investing and how it functions.
LLCs offer flexibility, especially when it comes to taxes and structure. Contrary to common belief, the IRS doesn’t treat LLCs as a specific entity type. Instead, depending on the number of owners, it is taxed either as a sole proprietorship, partnership, or corporation.
For those prioritizing privacy, I offer a bonus tip on using a Wyoming LLC to shield your identity from public records while maintaining ownership and management of an LLC in your home state.
This video is packed with practical advice and strategies for anyone interested in setting up an LLC for their business or rental property.
🔔 Don’t forget to subscribe for more insights on real estate investing and business strategies!
Show Notes:
0:00 Intro
3:55 Inside Liability Protection
7:01 Hyrbid Tax Treatment
9:29 Outside Liability Protections
11:55 Perpetual
15:00 Choosing a Name and A State
16:05 IRS (SS-4)
17:48 Operating Agreement
19:29 Corporate Transparency Act
21:13 Open Bank or Brokerage
25:39 Transfer Taxes
28:29 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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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.
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