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jjoseph

Posted 3/9/2010 13:30 (#1112200 - in reply to #1111330)
Subject: RE: Lets tie down the communication, so we don't lose anything in the translation...........

SW minn

Yes the LLC will have wife and kids as stockholders. Thinking of having two different LLC's or S-corp , one own the land and one rent the land, or one LLC owning the land and husband and wife rent it. Is there any advantages or disadvantages to either. Thanks for all the responses.

Edited by jjoseph 3/9/2010 13:32

LLC corp buying land - jjoseph : 3/8/2010 16:57
- RE: LLC corp buying land - seth47591 : 3/8/2010 18:06
  - The only rental income subject to SE taxes is that from ag land, producing a commodity---Sec 1402. - jakescia : 3/8/2010 19:12
    - RE: The only rental income subject to SE taxes is that from ag land, producing a commodity---Sec 140 - seth47591 : 3/8/2010 20:41
      - Lets tie down the communication, so we don't lose anything in the translation........... - jakescia : 3/8/2010 21:25
        
        RE: Lets tie down the communication, so we don't lose anything in the translation........... - seth47591 : 3/8/2010 21:59
        
        If I were an IRS agent, I would attack that from perspective that the structure was set up.......... - jakescia : 3/9/2010 11:52
        RE: Lets tie down the communication, so we don't lose anything in the translation........... - jjoseph : 3/9/2010 13:30
        
        RE: Lets tie down the communication, so we don't lose anything in the translation........... - jakescia : 3/9/2010 13:54
- RE: LLC corp buying land - jakescia : 3/8/2010 18:40
- If you want to talk with a tax attorney---- I know of a good one in small town north of Minneapolis. - jakescia : 3/9/2010 11:55

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