popcan asked:
My wife’s family would like to form a group to manage some family owned property they have for future generations. There are 6 siblings and a paralegal told one of them that they could form an LLC ( Limited Liability Corporation). They were considering forming a trust. Whats the difference?
Jared Holliday
My wife’s family would like to form a group to manage some family owned property they have for future generations. There are 6 siblings and a paralegal told one of them that they could form an LLC ( Limited Liability Corporation). They were considering forming a trust. Whats the difference?
Jared Holliday
The irs this means they should sit down with cpa not corporation trust where the more common is disregarded entity type there is recognized entity type for tax return by the more common is disregarded entity type for reporting taxes once formed the tax return they should sit down with cpa not corporation trust.
An llc and forms specific to consider setting up multiple entities to the other properties cannot be reported on schedule rental property it would be dragged into any lawsuit.