MEMBER FORUM HIGHLIGHT -- Land Trusts & Real Estate

Q: Is it best to own my rental properties in a land trust owned by an entity (LLC)? 

A: It depends on what you’re trying to accomplish.  From a tax standpoint, both the entity and the land trust will have minimal impact savings-wise.  However, the entity will afford you liability protection (obviously a good thing), and the land trust will afford you privacy (also a good thing if this is something you value).  As always, check with your attorney and advisor before proceeding.

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entities llc tax planning Jul 07, 2021

Today's Member Forum question spotlight deals with entities and married couples:

Q: If a married couple owns an LLC together, can they be considered a single member? 

A: Yes, if they live in a community property state.  This is important because it means the LLC will be considered disregarded versus a partnership, both of which trigger various tax implications.  Check to see if your state falls into this category.

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