• Why Set Up an Entity by the End of the Year? By Garrett Sutton, Esq. As the year closes it is time to start forming the corporations and LLCs you need for next year. We can form them for you in December and have them ready to go January 1st. Why not just form them in January? Well, here are the issues. First, if you do any business ...
  • Is an LLC a Separate Legal Entity? To answer this question, first let’s answer what an entity is. What is an Entity? An entity is a business organized according to state law to limit the liability of the owners. Entities can be corporations, limited-liability companies (LLCs) and limited partnerships (LPs). All provide much greater asset protection when compared to a sole proprietorship or general ...
  • A Guide to Doing Business Internationally Learn Various Facets of Doing Business in 39 Countries By Garrett Sutton, Esq. As business becomes more global, it becomes even more important to appreciate how local it remains. This is to say that there is not one global standard for doing business: How you conduct a meeting, How you present your business plan, How you negotiate ...
  • When States Raise Their Fees… When states raise their fees, people vote with their feet. We described Nevada’s new corporate fees in our last issue (a jump from $325 a year to $650.) We also described how you could ‘continue’ your Nevada entity (or any state entity for that matter) into Wyoming, where the annual fee is just ...
  • Top 12 LLC Advantages and Disadvantages When looking to start a business or protect investments you have several options in the type of entity you can form. As with anything there are advantages and disadvantages to limited liability companies. Below is a list of advantages when considering the formation of an LLC. Advantages of an LLC It limits liability for managers ...
  • The Difficulties of Being a Landlord Many investors who avoid real estate are afraid of the anticipated difficulties of being landlords. They hear horror stories. They think to themselves, “I don’t want to fix toilets,” and “I don’t want to get calls from tenants in the middle of the night.” But know that there are strategies for intelligently managing a property ...
  • Tax Hazards of Being a Professional Flipper Many people approach real estate purchases with different goals. Some have the desire to earn quick returns. These people purchase properties with the intention of fixing and flipping – buying an inexpensive property fixing it up and selling it when the market is ripe for gains. Flipping can seem like a ...
  • A Bookkeeper Is A Wise Investment A bookkeeper is your eyes and ears in terms of tracking your cash flow in real estate investments. He or she will immediately spot oversights—a tenant’s unpaid rent payment or a long-overdue utility bill, for instance—and will notify you before it becomes a serious problem. Bookkeepers not only process checks for deposit and payments to ...
  • Before You Invest In Real Estate, Educate Yourself I’m not suggesting that you need to know everything. You don’t. You’ll continue to learn as you go. But you must educate yourself in the basics to get started on the right foot. A little education goes a long way in accomplishing four essential goals: 1. Demystify Investing and Lessen Your Fear Learning about real estate will ...
  • Real Estate Investors: 2 Passive Loss Rules Can Save You $25,000 The biggest tax challenge for real estate investors are the passive loss rules. Under these rules, passive losses can only be used to offset passive income. A business activity is passive if the owner does not spend much time (typically less than 500 hours per year) participating in the business. The challenge for real estate ...
  • Winning with Franchises How many are winning with franchises today? The numbers are impressive. It is estimated that there are over 500,000 franchise outlets in the United States generating almost $150 billion in annual sales. With those numbers the question becomes: Is franchising right for ...
  • Winning with Trademarks Registering a trademark is an important step in any business venture – one that should not be overlooked. By protecting the name of your business, products or services, you ensure that others cannot use the trademarked words ...
  • Properly Recording Your Real Estate Transactions Is Critical Because buyers of real estate are ‘charged with notice,’ it is important that they actually receive such notice. Deeds and the like need to be recorded in the right place for the public to see. Mistakes are sometimes made in a county recorder’s office. It is your responsibility to make sure everything is recorded in ...
  • When Buying an Existing Business, Here’s What You Need to Know About a “Letter of Intent” What is a Letter of Intent and how does this help (or hurt) you when you want to buy a business? As soon as a buyer and seller have come to an agreement on price and major terms, a letter of intent may be prepared. This document precedes the more formal and detailed purchase agreement. ...
  • Why You Should Transfer Titles Using a Grant (or Warranty) Deed – Not a Quit Claim Deed By Garrett Sutton, Esq. There are a few reasons a quit claim deed is not preferred to transfer title to your property. One big reason is because the quit claim deed severs an express or implied warranty of title. (This means you are just granting whatever you may own which may be something, or nothing.) As ...
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