Real Estate Tax Planning
Real estate investors are at a risk for higher tax rates if they do not make tax planning a priority.
What is this?
Real estate investors who buy and hold properties for rentals, those who purchase properties to fix and flip, and real estate agents all participate in different types of business activities in the eyes of the IRS. It is important to know when and how to report rental income, how you can deduct rental expenses, and how to divide expenses for personal vacation homes. There are also special laws concerning fix and flip investors.
Tax concerns for real estate investors include:
- Properly reporting rental income
- How to operate as a fix and flip investor without being tagged with real estate dealer status
- Alternatives to sole proprietorship for real estate agents
Start Your Business Structuring Plan in 45 Minutes For Free
- Personalized structure created by a senior advisor
- Designed to protect your assets and minimize your state and federal taxes
- Starting your plan is free. There’s no obligation.
Why Trust Anderson For Your Business Structuring Needs?
Comprehensive Assessment Tailored To You
The wrong setup of your business now could mean more taxes and liability later. That’s where we’re really different. We take a comprehensive look at your situation not only from a legal asset protection perspective but also from a tax savings and financial planning perspective.
Experience You Can Trust
Unlike other law firms, our consultants consist of attorneys and planners who travel nationwide to speak at conferences and seminars on subject matters concerning asset protection, taxes and business planning. Since 1993, we have taught tens of thousands of people how to make better business decisions and properly prepare to meet their goals.
Take a look at these actual client stories to see how much of a difference an Anderson plan can make.
We set up a Nevada LLC for a client with significant savings. She was sued 3 years later for an environmental claim stemming from property she owned over 30 years before. Plaintiff wanted over $2 million in damages for the cleanup. After we disclosed that her assets were protected by a Nevada LLC and a HELOC on her residence Plaintiff accepted less than $100k in a settlement.
A bank wanted to pursue one of our clients for a deficiency judgement ($5.5 million) for commercial real estate he lost in foreclosure. Once the bank found out how we protected all of our clients remaining assets with LLCs and a Nevada holding LLC the bank’s attorney stated “we decline to seek a deficiency judgment given the complicated structure you have weaved for yourself”.
Our client purchased property in a LLC and it was later discovered the soil beneath the property was contaminated. The state sued the LLC to clean up the land. Client walked away from the property without any personal liability. Without the LLC he would have been on the hook for over $1 million.
Your Custom Entity Blueprint
Speak with an Anderson Professional Advisor to get your business planning blueprint to determine the best entity structure plan for you and your unique situation.