FREE TAX & ASSET PROTECTION WORKSHOP Learn about Real Estate & Asset Protection at our next all-day free Live Stream. Our attorneys and specialists will answer ALL questions: 👉 Save Your Seat: aba.link/4p7
This guy is the bomb!!! He just gave a masterclass without stopping on YT!!! Thank you so much for the video🎉🎉🎉 They don't teach this is school for a reason!!!
Clint you did an A+ job unpacking the basics. Love the 4 quadrant simplified explanations, while peppering in details that help further structuring understanding. Nicely done!
I called your company and spoke with advisor was not impressed with their sales-pitch style and they seemed uninterested in listening, just hurrying up to give quotes for services.This is too bad, because you are so good
Sorry for that. Please email me the name of the person you spoke to and I will have my assistant get you rescheduled with an attorney. My email is ccoons@andersonadvisors.com
Hi Clint, thank you for your professional and deep knowledge that you always present on youtube. You and your partner Toby are my favorite professional youtuber. I had the similar experience that LAKitchen had. I am a medical provider. I have a great need for your professional services. I joined your company member last year. But it did not go through well. I did not get the thorough services and knowledge that you have. And I know you are so busy and I am not big and important enough to be your client. But, I still watching you and Toby all the time. I still wish I can have you to help my personal and busy tax and planning protection needs. Or someone who is mostly good as you. Wish you successfully keep building your company. Blessings.
@LAKitchen Sorry for that. Please email me the name of the person you spoke to and I will have my assistant get you rescheduled with an attorney. My email is ccoons@andersonadvisors.com
I had the exact same experience as both of you. The person with whom I spoke had extremely poor knowledge of my situation to even understand what I needed. Definitely a commission environment…
"If I like myself then I'll get the loan"😂 But seriously this information is so valuable. So glad to know your knowledge and services are available. Thank you so much for sharing the basic foundations.
Hello. It is very valuable video. Thank you. I am a contractor in California and need to protect my safe assets, and thought here is the way to go: Wyoming LLC. But then I found this info: "Wyoming does have asset protection laws, but these are not as good as they may seem at first. That is because anyone who is out of state, like most LLCs, will have to deal with conflicting laws. In that situation, the Wyoming asset protection laws become irrelevant and lose their benefits". Any comments?
Amazing video! - not many youtube videos have my undivided attention for the entire video. Great work and attention to details by explaining everything ver well. Ill be doing business with you soon.
AWESOME Video! So Many CPA's were not able to help us understand the diff b/w LLC versus traditional INC and the questions to ask ourselves. Thanks Clint, You are awesome! Thx for sharing this info.
16:00 'Wyoming 1. offers the charging order. It states in its statute that it's the exclusive remedy. So you've got to have this in your operating agreement 2. No requirement to list members or managers. 3. Delaware is more expensive and Nevada anonymity is more challenging.'
Hi Clint, thank you for your professional and deep knowledge that you always present on youtube. You and your partner Toby are my favorite professional youtuber. I had the similar experience that LAKitchen had. I am a medical provider. I have a great need for your professional services. I joined your company member last year. But it did not go through well. I did not get the thorough services and knowledge that you have. And I know you are so busy and I am not big and important enough to be your client. But, I still watching you and Toby all the time. I still wish I can have you to help my personal and business tax and planning protection needs. Or someone who is mostly good as you. Wish you successfully keep building your company. Blessings.
I love your videos. There are very few people out there like you offering valuable critical information in such a clear manor. You speak a lot about setting up an anonymity structure utilising a WY LLC to hold your local LLC. How do you maintain anonymity when A) Suppose you want to transfer property into the local LLC, upon transferring the deed you need to list a SS of the member of the local LLC B) The WY LLC requires an annual report , to which you’ll need to sign for. (Even if you have a 3rd party organiser.)
If you set up the structure yourself you won't be able to give your plan anonymity. If the local LLC is owned by a WY LLC then your name will not appear anywhere on the local filing. On the WY annual you should have a 3rd party submit the annual on your behalf.
@@ClintCoons do you mean that when I have a 3rd party Organiser, I should not have to sign on the annual report? 2ndly, what about when my local LLC buys the property from myself, am I not required to write the SS of the member of the local LLC when filing the deed? (How do you get around that even, when using a 3rd party?)
Clint is really good! I rather work with you directly than your “advisors” tho, not impressed with your sales-y team advisors so much after my 2 calls.
Super informative video!! Can you make a video About how to use A LIVING TRUST For keeping assets Private??? I know that these trusts provide no asset protection, But privacy is very important. Thank you!!!!
It's definitely worth it. If you use leverage, make sure to let them know so they set it up manager managed. Otherwise getting financing is very difficult if you have too much anonymity.
Very informative and educational. I knew about some of this stuff but the quadrants and examples really broke it down in an easy way to understand. I'm wondering if I have enough wealth for this to financially make sense for me. What are the typical costs of maintaining these entities after setup?
Am I the only one who's wondering if all the cleverly hidden assets of Alex Murdaugh may have been the driving force behind the Transparency Act? 🤷🏻♀️😂
You said for the third quad for buying real estate why is that not included in to Quadrant 4 Risk asset just wondering, Lee Gray or Leolyan Gray same person it’s easier to pronounce Lee thanks Clint. You’ve helped me a lot. I will be talking to you soon and creating what you’re showing here. Planning on joining platinum keep up the good work. Your work is awesome and I see you as an awesome person and a caring person again, Lee Gray
I may not have been very clear when I text about putting real estate that’s in the third quadrant where one has active business. What is the difference in buying real estate in the third quadrant and in the fourth quadrant under risk assets?
Hello, I like you video and they are very useful. What's your though on this? An additional item to consider when deciding whether to form an LLC in Wyoming instead of Georgia, is the Full Faith and Credit Clause of the US Constitution. If a Georgia resident formed a Wyoming LLC, a Georgia creditor got a judgment against the Georgia resident, including a charging order and garnishment, it seems that the creditor should be able to take the Georgia judgment and charging order and garnishment to Wyoming and have the Wyoming courts apply the judgment, charging order, and garnishment to the Wyoming LLC. The result is that the Wyoming LLC does not help the Georgia resident. That is almost exactly what happened in the 2012 case of In re Inman, except the states involved were Florida and Colorado.
Georgia doesn't permit foreclosure or dissolution of LLC anyways so, for me as a Georgia resident, Wyoming LLC would not be very helpful as court will implement Georgia rule to Wyoming LLC and it won't be limited to charging order only? @@ClintCoons
Clint thank you-if you could possibly do a general video on the EIN number application on reason for LLC, especially for those of us not using for business but holding assets (that do not produce income). I have not applied because so confusing and no explanation from IRS, cannot reach them by phone either. Generally attorney tells you to select starting new business but in my case not starting a new business. I saw option for banking ? do you know anything about the options on this irs form or where I can get specific explanations of what each option is? so confusing.
Another great video! Question, I'm a residential home builder and I recently purchased a piece of land where I'll be constructing a home for a customer. The land is in the name of my company LLC. I have a Wyoming LLC for my personal items. Is there anything you could recommend to safeguard the land while I'm doing construction??
Very helpful. I have a rental property in Brickell Miami under an LLC and trying to decide if I should remove it from LLC. putting it in a Trust and get Umbrella insurance :-( Help!!!!
Hi Clint, thank you so much for this video! Do you know if I wanted to put my savings into a WY LLC like you are recommending, if simply setting up a couple CD accounts and then a small amount of money (e.g., $5k) into the S&P 500 would warrant the required business purpose of the LLC in the eyes of a judge (i.e., the business purpose would be "investing")?. In other words, do you know if what I described would allow the protections of the WY LLC to normally hold up in court if I were sued personally, assuming there was no comingling of funds, fraud, etc.?
Hey there Clint, thank you for the videos as always. Question. Would love your opinion regarding those who push using an offshore trust in let's say cook islands or Nevis.. Any downsides to that strategy?
Question, if you have a business (C Corp) that has accumulated a lot of liquid assets after taxes, are you able to use those funds to fund risk assets in quadrant #4 such as real estate without having to take a distribution that hits the personal taxes? Like an ownership interest in a WY LLC Holding company with several sub LLCs that own real estate properties?
Hmm. You could loan the money to yourself to invest in RE, or if you want your corporation to own the property, you would invest through LLCs owned by the corporation. Remember that holding rentals in a corp is not a good idea from a tax perspective.
Can you please make a video on the best way to get reimbursement on medical expenses? What kind of structure to set up so that you can deduct all medical Bills and the best businesses to start for that?
If I own a parcel of land with a 3 unit storage building that collects rent from each, what is my best option for business? Any answers or help would be much appreciated. *Possibly this scenario falls in the last quadrant but i'm not sure for best asset protection!?
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/f1m
Clint, if i have a operation side of business and rentals , should i have one WY holding llc to own those state llc with rentals and one WY holding LLC for the open active business operation ? or one WY holding LLC is good for both active & passive income ? thank you
Hello Clint, I thought in one of your videos you said don't open an LLC for personal items for instance cash savings. However, here you are saying open a savings account under an LLC (no risk quadrant). Don't you think its a conflicting advice?
Hi Clint, I just asked this questions in another video. When you transfer money out of my business to my Wyoming LLC is that transfer trackable or taxable? Will a creditor ask why an I sending money to a Wyoming LLC?
Thank you...looks like I will be inheriting 7 properties and a dozen tenants in CA soon. I will be seeking more advise at that time. thanks again for the reply. @@ClintCoons
I'm beginning in real estate investing and I wanted to know if I'm able to begin with a AMLP to hold my real estate? I'll be the only member/owner of the business. My plan is to use the AMLP as the holding company for my real estate investments. I would like to to have the anonymity of an Wy close llc as the operating entity. Lastly, can the AMLP hold other businesses not correlated with real estate? Thank you!
I would keep other assets separate from your real estate like I show you in the video. Second, using the AMLP can pose potential issues for flow through losses and material participation status.
I have a WY LLC taxed as a S-corp. Can I use this as my no risk investment WY LLC (2nd quadrant)? Or are you adamant about it being a disregarded entity / partnership?
Assuming all the businesses and Risk investments are in their own separate entities, does the WY LLC in your Non Risk Investment own the businesses and Risk Investments in those respective quadrants or are they all flowing up in to their own separate WY LLCs? So in other words, do you have a separate holdings WY LLC for each of those quadrants, or is it the same one used for your non risk investments?
I'm so confused. Even if I set up a WY LLC holding co and put my CA LLCs inside, if I'm doing business in California then California will require me to register my WY LLC as a foreign LLC and file a Statement of Information wherein I have to list the members of the WY LLC. Is this correct?
Does this stuff work in California, have to disclose and register everything if doing business in CA...like rental property. Holding entity in WY for property in CA legit?
When transferring a personal residence into a Residence Trust, wouldn't that trigger the Due on Sale Clause in the Mortgage? Are Residence Trusts only for homes that do not have a mortgage associated with them?
In theory i can start a anonymous llc and buy dividend stock or payinf investment aka landa etc then use that income to pay business expenses would i still need pay taxs on the dividend payouts when the income of the llc will be zero on paper?
Is there anything that requires us to name a trust ... words? Can we use a random series of upper and lower case letters, numbers and symbols? Like the randomly generated passwords.
You didn't demonstrate or explain the greatest benefit of an S Corp, The ability to pay yourself a large chunk via dividends that are taxed at 15% in most cases. So you would effectively not be in a 37% tax bracket. Your explanation of the benefits of a C Corp is good, but there are a lot of benefits to S Corp, especially those in lower income generating brackets.
if a creditor can take your savings in the living trust (personal side)why cant they take the checking acct that you have listed under the living trust?
They can and that is why you should not keep a large account balance in your personal checking. You can not put your personal checking into your WY LLC it must remain in a trust.
Clint not making any money here, not investing at all and only holding assets; no income just existing funds saved-already paid income taxes on; so no taxes correct?
If no one knows you are the manager than how come the you got settelments for the example cases? You should be able to say your broke and pay nothing... no? Because officially you are
Hey Clint or whoever answers the comments, this is Lee Gray or LEOLYAN I was trying to reply, but I was replying to my messages. I guess so if you can read my message, pull up my message or messages and go to replies. I don’t know how this stuff works and read what I had written there Lee Gray thanks Clint.
FREE TAX & ASSET PROTECTION WORKSHOP
Learn about Real Estate & Asset Protection at our next all-day free Live Stream. Our attorneys and specialists will answer ALL questions: 👉 Save Your Seat: aba.link/4p7
How much do you charge?
This guy is the bomb!!! He just gave a masterclass without stopping on YT!!! Thank you so much for the video🎉🎉🎉 They don't teach this is school for a reason!!!
@samthecoach
Thanks for watching.
Clint you did an A+ job unpacking the basics. Love the 4 quadrant simplified explanations, while peppering in details that help further structuring understanding. Nicely done!
Thanks
I called your company and spoke with advisor was not impressed with their sales-pitch style and they seemed uninterested in listening, just hurrying up to give quotes for services.This is too bad, because you are so good
Sorry for that. Please email me the name of the person you spoke to and I will have my assistant get you rescheduled with an attorney. My email is ccoons@andersonadvisors.com
Hi Clint, thank you for your professional and deep knowledge that you always present on youtube. You and your partner Toby are my favorite professional youtuber.
I had the similar experience that LAKitchen had. I am a medical provider. I have a great need for your professional services. I joined your company member last year. But it did not go through well. I did not get the thorough services and knowledge that you have. And I know you are so busy and I am not big and important enough to be your client. But, I still watching you and Toby all the time. I still wish I can have you to help my personal and busy tax and planning protection needs. Or someone who is mostly good as you. Wish you successfully keep building your company. Blessings.
@LAKitchen Sorry for that. Please email me the name of the person you spoke to and I will have my assistant get you rescheduled with an attorney. My email is ccoons@andersonadvisors.com
I had the exact same experience as both of you. The person with whom I spoke had extremely poor knowledge of my situation to even understand what I needed. Definitely a commission environment…
Why wouldn’t you just get umbrella insurance in the amount of your entire net worth and then not be concerned about getting sued?
"If I like myself then I'll get the loan"😂 But seriously this information is so valuable. So glad to know your knowledge and services are available. Thank you so much for sharing the basic foundations.
Thanks for the comment.
Clint is amazing, knows everything, and really cares about protecting clients.
This is the best explanation for s-corp and c-corp for me
I'm so glad the explanation helped clarify things for you
Hello. It is very valuable video. Thank you. I am a contractor in California and need to protect my safe assets, and thought here is the way to go: Wyoming LLC. But then I found this info: "Wyoming does have asset protection laws, but these are not as good as they may seem at first. That is because anyone who is out of state, like most LLCs, will have to deal with conflicting laws. In that situation, the Wyoming asset protection laws become irrelevant and lose their benefits".
Any comments?
Amazing video! - not many youtube videos have my undivided attention for the entire video. Great work and attention to details by explaining everything ver well. Ill be doing business with you soon.
Thank you very much.
Informative and practical examples, may you be blessed Clint!
Thank you kindly!
This was ABSOLUTELY VERY VERY HELPFUL!!!
Excellent presentation of this complex information - thank you so much!
Glad it was helpful!
AWESOME Video! So Many CPA's were not able to help us understand the diff b/w LLC versus traditional INC and the questions to ask ourselves. Thanks Clint, You are awesome! Thx for sharing this info.
Glad you enjoyed it!
Amazing information thank you!
Awesome and valuable insights! Thank you!!!
Glad it was helpful!
Thank you for your dedication in keeping us inform.
My pleasure
Best explanation I have heard. Thank you very much!
Great to hear!
Thanks for sharing. It really helped to understand the basics.
Glad to hear it!
16:00 'Wyoming 1. offers the charging order. It states in its statute that it's the exclusive remedy. So you've got to have this in your operating agreement 2. No requirement to list members or managers. 3. Delaware is more expensive and Nevada anonymity is more challenging.'
This is top notch information used by the wealthy. Thank you, Clint.
Hi Clint, thank you for your professional and deep knowledge that you always present on youtube. You and your partner Toby are my favorite professional youtuber.
I had the similar experience that LAKitchen had. I am a medical provider. I have a great need for your professional services. I joined your company member last year. But it did not go through well. I did not get the thorough services and knowledge that you have. And I know you are so busy and I am not big and important enough to be your client. But, I still watching you and Toby all the time. I still wish I can have you to help my personal and business tax and planning protection needs. Or someone who is mostly good as you. Wish you successfully keep building your company. Blessings.
email me and I will have you work with someone on my team. ccoons@andersonadvisors.com
I love your videos. There are very few people out there like you offering valuable critical information in such a clear manor.
You speak a lot about setting up an anonymity structure utilising a WY LLC to hold your local LLC.
How do you maintain anonymity when
A) Suppose you want to transfer property into the local LLC,
upon transferring the deed you need to list a SS of the member of the local LLC
B) The WY LLC requires an annual report , to which you’ll need to sign for. (Even if you have a 3rd party organiser.)
If you set up the structure yourself you won't be able to give your plan anonymity. If the local LLC is owned by a WY LLC then your name will not appear anywhere on the local filing. On the WY annual you should have a 3rd party submit the annual on your behalf.
@@ClintCoons do you mean that when I have a 3rd party Organiser, I should not have to sign on the annual report?
2ndly, what about when my local LLC buys the property from myself, am I not required to write the SS of the member of the local LLC when filing the deed?
(How do you get around that even, when using a 3rd party?)
Clint is really good! I rather work with you directly than your “advisors” tho, not impressed with your sales-y team advisors so much after my 2 calls.
Ask to speak with Carl Zollner. Carl is one of our lead attorneys.
Super Thanks Clint this was a great presentation!
Glad it was helpful!
Thank you for this overview. Very helpful. FYI - Your team forgot to add all the links to the videos you are referencing.
Ouch. I better get them on that. Thanks for the heads up.
Super informative video!!
Can you make a video
About how to use
A LIVING TRUST
For keeping assets
Private???
I know that these trusts provide no asset protection,
But privacy is very important.
Thank you!!!!
Search my channel for privacy and you will find a few videos.
I’m going to buy your book on Amazon and watch your workshop. I have 3 LLCs set up approaching 5 mil in real estate I clearly need your help
It's definitely worth it. If you use leverage, make sure to let them know so they set it up manager managed. Otherwise getting financing is very difficult if you have too much anonymity.
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
@@ClintCoonsDid you reduce from 45 to 30 minutes?
Thanks so much for this great info!
Where would W2 income be placed or play into this structure?
Quadrant #3
Amazing info!! Thank you!
Glad it was helpful!
I think Clint did biceps and triceps before the video. Great information, sir.
Hell I had to watch this video again to see if my arms were busting. 😂
OMG a honest lawyer
Very informative and educational. I knew about some of this stuff but the quadrants and examples really broke it down in an easy way to understand. I'm wondering if I have enough wealth for this to financially make sense for me. What are the typical costs of maintaining these entities after setup?
It depends on the number of entities and where they are setup. WY is about $225 a year whereas CA is closer to 1k.
Thank you so much! I have learned more from this video than so much other research I have done
This is the most useful video ever.
Glad it was helpful!
Great Video. How does the new Transparency Act affect how we set up our Inc/LLC's? Thank you so much!
See this website: andersonadvisors.com/corporate-transparency-act-compliance/
Am I the only one who's wondering if all the cleverly hidden assets of Alex Murdaugh may have been the driving force behind the Transparency Act? 🤷🏻♀️😂
Thank you, Golden ( ..literally.. )
You said for the third quad for buying real estate why is that not included in to Quadrant 4 Risk asset just wondering, Lee Gray or Leolyan Gray same person it’s easier to pronounce Lee thanks Clint. You’ve helped me a lot. I will be talking to you soon and creating what you’re showing here. Planning on joining platinum keep up the good work. Your work is awesome and I see you as an awesome person and a caring person again, Lee Gray
I may not have been very clear when I text about putting real estate that’s in the third quadrant where one has active business. What is the difference in buying real estate in the third quadrant and in the fourth quadrant under risk assets?
From Lee Gray or Leolyan Gray I am the same person. It’s easy to say Lee than my full name Leolyan
Lee the real estate would be in the 4th quadrant and then leased to the business.
Great video
Glad you enjoyed it
Hello,
I like you video and they are very useful. What's your though on this?
An additional item to consider when deciding whether to form an LLC in Wyoming instead of Georgia, is the Full Faith and Credit Clause of the US Constitution. If a Georgia resident formed a Wyoming LLC, a Georgia creditor got a judgment against the Georgia resident, including a charging order and garnishment, it seems that the creditor should be able to take the Georgia judgment and charging order and garnishment to Wyoming and have the Wyoming courts apply the judgment, charging order, and garnishment to the Wyoming LLC. The result is that the Wyoming LLC does not help the Georgia resident. That is almost exactly what happened in the 2012 case of In re Inman, except the states involved were Florida and Colorado.
You could get the charging order but not the foreclosure. Colorado permits foreclosure of an LLC interest so that may be why the remedy was allowed.
Georgia doesn't permit foreclosure or dissolution of LLC anyways so, for me as a Georgia resident, Wyoming LLC would not be very helpful as court will implement Georgia rule to Wyoming LLC and it won't be limited to charging order only? @@ClintCoons
Great video!
Thank you so much…
I just have a question…the BOI reporting (A new way to CONTROL) WHAT IS YOUR INPUT ..
I dont disagree. I have an update video posting in a few weeks.
So grateful
👍
So much incredible information here. Thank you! Love "Yeah, maybe in California". Hahaha
Glad you enjoyed it!
Clint thank you-if you could possibly do a general video on the EIN number application on reason for LLC, especially for those of us not using for business but holding assets (that do not produce income). I have not applied because so confusing and no explanation from IRS, cannot reach them by phone either. Generally attorney tells you to select starting new business but in my case not starting a new business. I saw option for banking ? do you know anything about the options on this irs form or where I can get specific explanations of what each option is? so confusing.
Another great video! Question, I'm a residential home builder and I recently purchased a piece of land where I'll be constructing a home for a customer. The land is in the name of my company LLC. I have a Wyoming LLC for my personal items. Is there anything you could recommend to safeguard the land while I'm doing construction??
Yes the land should be in a separate LLC.
Very helpful. I have a rental property in Brickell Miami under an LLC and trying to decide if I should remove it from LLC. putting it in a Trust and get Umbrella insurance :-( Help!!!!
Keep it as is. If you move it out the property tax cap will reset.
How much do you charge per hour? Do you charge per service as well? And do you work with people that are not in your state?
Hi Clint, thank you so much for this video! Do you know if I wanted to put my savings into a WY LLC like you are recommending, if simply setting up a couple CD accounts and then a small amount of money (e.g., $5k) into the S&P 500 would warrant the required business purpose of the LLC in the eyes of a judge (i.e., the business purpose would be "investing")?. In other words, do you know if what I described would allow the protections of the WY LLC to normally hold up in court if I were sued personally, assuming there was no comingling of funds, fraud, etc.?
At 5k I would wait until you build the account before establishing the LLC.
@@ClintCoonsThank you!
land trust for home, beneficiary is another trust. cars can be put into Montana and New mexico LLCs.
Hey there Clint, thank you for the videos as always. Question. Would love your opinion regarding those who push using an offshore trust in let's say cook islands or Nevis.. Any downsides to that strategy?
Just cost and complexity
@@ClintCoons yes. I can definitely see that.. Thank you so much! 🙏
Question, if you have a business (C Corp) that has accumulated a lot of liquid assets after taxes, are you able to use those funds to fund risk assets in quadrant #4 such as real estate without having to take a distribution that hits the personal taxes? Like an ownership interest in a WY LLC Holding company with several sub LLCs that own real estate properties?
Hmm. You could loan the money to yourself to invest in RE, or if you want your corporation to own the property, you would invest through LLCs owned by the corporation. Remember that holding rentals in a corp is not a good idea from a tax perspective.
Did you address double taxation with C-Corps?
Can you please make a video on the best way to get reimbursement on medical expenses? What kind of structure to set up so that you can deduct all medical Bills and the best businesses to start for that?
👍
@@ClintCoons Yes, please… minimizing Medical taxations, thank you.
If I own a parcel of land with a 3 unit storage building that collects rent from each, what is my best option for business?
Any answers or help would be much appreciated.
*Possibly this scenario falls in the last quadrant but i'm not sure for best asset protection!?
I would place it in an LLC that is held by a separate WY LLC.
If you have assets already and want to move them into this structure, wouldn't there be a paper trail showing that you moved these funds/assets in it?
Only real estate transfers are public.
LLC By-Law's? and Inc By-Law's . how do I see some samples for review, with all the special caucus's for tax planning
How should I structure my llc to protect my self from a potential divorcing?
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/f1m
Clint, if i have a operation side of business and rentals , should i have one WY holding llc to own those state llc with rentals and one WY holding LLC for the open active business operation ? or one WY holding LLC is good for both active & passive income ? thank you
Yes I would separate these activities.
Hello Clint, I thought in one of your videos you said don't open an LLC for personal items for instance cash savings. However, here you are saying open a savings account under an LLC (no risk quadrant). Don't you think its a conflicting advice?
No because your savings is an investment account with counts as a business asset. The business purpose is investing.
Hi Clint, I just asked this questions in another video. When you transfer money out of my business to my Wyoming LLC is that transfer trackable or taxable? Will a creditor ask why an I sending money to a Wyoming LLC?
Its not taxable provided your LLC is not treated as a C-Corp. If a creditor questioned the transfer the answer would be owner distribution.
Thank you...looks like I will be inheriting 7 properties and a dozen tenants in CA soon. I will be seeking more advise at that time. thanks again for the reply. @@ClintCoons
I'm beginning in real estate investing and I wanted to know if I'm able to begin with a AMLP to hold my real estate? I'll be the only member/owner of the business. My plan is to use the AMLP as the holding company for my real estate investments. I would like to to have the anonymity of an Wy close llc as the operating entity. Lastly, can the AMLP hold other businesses not correlated with real estate? Thank you!
I would keep other assets separate from your real estate like I show you in the video. Second, using the AMLP can pose potential issues for flow through losses and material participation status.
I have a WY LLC taxed as a S-corp. Can I use this as my no risk investment WY LLC (2nd quadrant)? Or are you adamant about it being a disregarded entity / partnership?
I would avoid the S-Corp because of possible audit issues for not paying salaries.
Assuming all the businesses and Risk investments are in their own separate entities, does the WY LLC in your Non Risk Investment own the businesses and Risk Investments in those respective quadrants or are they all flowing up in to their own separate WY LLCs? So in other words, do you have a separate holdings WY LLC for each of those quadrants, or is it the same one used for your non risk investments?
I would use 2 WY holding LLCs. One will hold safe assets and the other will hold the risk LLCs
Do the Wyoming laws you mentioned apply if I’m setting up a foreign llc from California?
They do not.
Will changing the ownership of properties to a trust trigger a property tax reassessment from the city
Very unusual if that were to occur.
Does putting your personal brokerage account into a single-owner WY LLC disregarded get the brokerage income taxed also for 15.5% self-employment tax?
No
I'm so confused. Even if I set up a WY LLC holding co and put my CA LLCs inside, if I'm doing business in California then California will require me to register my WY LLC as a foreign LLC and file a Statement of Information wherein I have to list the members of the WY LLC. Is this correct?
Clint hi, how abt a religious entity benefits?
Does this stuff work in California, have to disclose and register everything if doing business in CA...like rental property. Holding entity in WY for property in CA legit?
Absolutely. We use it all the time.
Clint, the Wyoming LLC what would you classify that as for tax purposes, and would you use it as a holding company?
I would set it up as a Partnership if it owns real estate (quadrant 4) and disregarded if it holds only quadrant 2 assets.
When transferring a personal residence into a Residence Trust, wouldn't that trigger the Due on Sale Clause in the Mortgage? Are Residence Trusts only for homes that do not have a mortgage associated with them?
Not at all. Moving property into a trust rarely causes a concern for a lender.
In theory i can start a anonymous llc and buy dividend stock or payinf investment aka landa etc then use that income to pay business expenses would i still need pay taxs on the dividend payouts when the income of the llc will be zero on paper?
Yes you will pay taxes on any net income that is attributed to the LLC.
You said quads instead of tv / 4-wheeler.(I leave near where some are manufactured and just recently learned that some people call them quads).
Maybe its my age. 😂
42:25 If you consider a vehicle to be a liability, it would still be okay to have an active business own it.
Yes
Is there anything that requires us to name a trust ... words? Can we use a random series of upper and lower case letters, numbers and symbols? Like the randomly generated passwords.
Not sure if it would be accepted by 3rd parties.
Hey Clint, can you use this in an Nevada LLC rather than Wyomi
Yes you can but it is more complicated on the anonymity side with a NV LLC
You didn't demonstrate or explain the greatest benefit of an S Corp, The ability to pay yourself a large chunk via dividends that are taxed at 15% in most cases. So you would effectively not be in a 37% tax bracket. Your explanation of the benefits of a C Corp is good, but there are a lot of benefits to S Corp, especially those in lower income generating brackets.
Correct. It all depends on the situation. We set up a lot of S-Corps.
if a creditor can take your savings in the living trust (personal side)why cant they take the checking acct that you have listed under the living trust?
They can and that is why you should not keep a large account balance in your personal checking. You can not put your personal checking into your WY LLC it must remain in a trust.
Why not put the checking account into the WY LLC?
Because the LLC is a business account and you can not use personal funds inside of a business or it blows the corporate veil.
What is the difference between a residence trust and a land trust? I have my personal residence in a land trust.
Basically the same with a few minor differences to the language.
Business trust or Llc for a Nevada RE company?
LLC
What about the CORPORATE TRANSPARENCY Law coming in 2024???
Correct - here is a link to my site with tons of info: cta.andersonadvisors.com/
What about partnership clint?
What about it?
How come an LLC act like a bank? Is it defined like a bank?
No it holds your liquid assets its not an actual bank.
Can you just hold your assets not invest by the way in WY LLC, dont want to pay any income taxes on this.
You will pay income taxes on any income generated from the assets and yes you can hold in the WY LLC even though they are not making money.
Clint not making any money here, not investing at all and only holding assets; no income just existing funds saved-already paid income taxes on; so no taxes correct?
@@cesterly4668 Correct
Why NoT SouthDakota then WyominG then the PersonaL State U Actually Reside iN ???
Seem like too many layers.
Would you ever put your LLC (#2 quadrant) into your Trust (#1 quadrant)?? Hmmmm???
What is an INC?
A corporation
How to check if the inc made the small stock 1044 election?
It would be in your organizational meeting minutes for the corporation.
He said LegalDoom 😂😂😂😂😂
If no one knows you are the manager than how come the you got settelments for the example cases?
You should be able to say your broke and pay nothing... no?
Because officially you are
You are being sued and appearing to own nothing gives you the advantage to settle for your insurance policy.
ART can go in No Risk Investments
Yes
maybe in CA. hahahahaha
Hey Clint or whoever answers the comments, this is Lee Gray or LEOLYAN I was trying to reply, but I was replying to my messages. I guess so if you can read my message, pull up my message or messages and go to replies. I don’t know how this stuff works and read what I had written there Lee Gray thanks Clint.
Great content