Are your clients purchasing investment property?
There is no doubt that the economy in Las Vegas has rebounded and along with it, the real estate market. Driving around town, it is pretty obvious that new construction is now back in vogue. You are undoubtedly busy with clients who are buying homes as a primary residence and also those buying as an investment property. Let’s talk about those. Here are 3 reasons for your clients to consider an LLC as a way to hold title for their real estate portfolio.
- Holding Title in the Name of an LLC– when your clients hold title in the name of an LLC it is more difficult for someone to find out who the true property owner is. This gives the owner an added layer of anonymity. When your client creates an LLC in Nevada, they can be the manager for the LLC and keep the ownership private.
- Liability– when your client holds title in an LLC they separate themselves as an individual from the possibility of a lawsuit which could then go after their personal assets. It adds another possible layer of protection. Your client(s) should always check with their legal advisor about their specific situation.
- Possible Tax Benefits– before we get into this one, first check with your tax preparer/CPA to go over the specific benefits that may apply to you. Generally, businesses have more tax benefits on investments than when the investment is held privately. Now that tax season is over, encourage your clients to schedule a meeting with their tax preparer to appropriately structure the entities they own.
This time of year tends to be very active with people buying and/or selling real estate. This season will be no different. We are always here to answer your questions so that you can be a more knowledgeable resource to your clients. Always encourage them to seek legal and tax professional guidance as each situation can be different and require different planning and strategy.
Quick Claim USA
Quick Claim USA and their employees are not attorneys in the State of Nevada or in any other State or Jurisdiction. Quick Claim USA is not licensed to give legal advice and may not accept fees for giving legal advice. Should you have questions regarding any of the above items, you must seek the advice of independent legal/tax counsel of your choosing.
