Internal Revenue Service (IRS) | Asset Protection for Real Estate Investors : Royal Legal Solutions

Internal Revenue Service (IRS)

Internal Revenue Service (IRS)

You may not know it, but you might be disqualified from being able to take advantage of the 1031 exchange. And might be subject to 39.6% tax rate, if the IRS wouldn’t consider you a dealer. The way that you can ensure that you’re not a dealer is to have a corporation that owns and controls LLCs. Which ultimately own the assets. If you take this approach you will not be considered a dealer by the IRS. The IRS, notably, gets to make this decision on their own. So, make sure to contact a CPA and an attorney, to make sure you follow these rules. So that you’re not surprised by huge tax consequences. My name is Scott Smith, I’m an Asset Protection attorney out of Austin, Texas. I’m a real estate investor myself and I want to help you.

Discuss The Legal Safety Of Your Real Estate Investment Portfolio With Our Team? Give Our REI Legal Team A Call Now!512-757-3994

0 Comments