I would like to find a CPA/tax attorney/firm who knows how to answer
questions about the use of Nevada corporations, the use of two-state
corporation setups for protecting assets and limiting liability, the
use of land trusts, and finally, helping me structure my empire as it
starts to span over many states. I am interested in three main
things: privacy, legal tax avoidance, and limited liability. I want
to find this CPA/tax attorney/firm so that I can retain them long term
for some or all of the purposes of resident agency, bookkeeping,
accounting, business consultation, and tax return preparation.
I want to incorporate, or rather more broadly, poise myself for
creating success through the proper legal grounding, whatever that may
be. Let me give you particulars.
I am a real estate agent in Louisiana. I do not regard that as my
final career, but I do regard having my license as a useful tool for
where I want to go. And that is real estate investment (buy, sell,
hold, rent, develop). Think of it (if you know these terms) as not
wanting to be a Rich Dad "S" (the realtor), but rather a Rich Dad "I"
(where my license facilitates the handling of my investments). As
being an "I" rather than an "S" is my goal, my real estate license has
no long term importance to me.
So my questions to my future retained professional firm are, what are my steps?
1. I want to incorporate my realtor business. I am not a broker, but
an agent for a broker (realtor incorporating for biz and liability
purposes in Louisiana is legit, I know for a fact, even if
out-of-state corp). Nevada or Louisiana? C corp, S corp, LLC, PC? Is
it wise for me to use this corp for other purposes, such as the entity
which will lease to the public my holdings held in another (possibly
out-of-state) corp, as described in the following:
a. Nevada, Inc. buys a New Orleans apartment building.
b. Nevada, Inc. leases whole building to Louisiana, Inc.
c. Louisiana, Inc. leases individual units to renters, pays Nevada,
Inc. single monthly payment.
d. Louisiana, Inc. holds no assets (thus nothing to grab in a suit)
AND has virtually no income (perhaps even losses).
e. Nevada, Inc. is structured to have no income (depreciation
schedules, accelerated mortgage payments, etc.), and has only federal
income tax to pay (Nevada is state corp tax free).
2. At some point, I want to familiarize myself with the use of
Illinois-style land trusts (I have heard of landtrust.net). I know
enough to know they can be of tremendous use, but I am not familiar
enough with them to know how to use them. Tell me why they are an
ideal vehicle for buying, selling, holding, transferring real estate.
3. What legal entity type should hold my future holdings? Lousiana or
Nevada? Always Nevada? One entity for all, or one for each property?
Are these entities "tiered" for lack of a better term (corp owning
corp), or "side-by-side".
I realize that these questions really amount to about a month of
consulting, but bear in mind that these are the questions that I would
like to ask my future retained professional firm. It is far more
important to me to find this professional firm than it is to find the
answers to these specific questions. So, how do I find this person or
firm? Remember that I live in Louisiana and do not plan on leaving
soon, so a level of understanding in dealing here is important as
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