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Pros and Cons of using an LLC (Read 285 times)
Mar 27th, 2022 at 3:41pm

IkeFinnell   Offline
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What are you looking to do that requires you to shield your personal assets from liability that would make a LLC necessary? If you're thinking of margin trading or something similar, pretty much every brokerage will require you to sign personally anyways, thus defeating the personal liability protection. There might be some advantages if you're thinking of real estate though.


A LLC is a pass-through entity for tax purposes. So, you're not going to get any tax avoidance by keeping money in a LLC. (As opposed a C-Corp but you're going to get double taxation there.)
 
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Reply #1 - Mar 27th, 2022 at 10:35pm

Petergoffness   Offline
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I am curious if others in this community are familiar with, have experience with, or have advice/recommendations regarding starting an investing LLC with the immediate members of your family, to build long-term family wealth? I figure it would compose of two parents and two children, with equally divided funding and ownership. Legal consultation would of course be sought out, however for the means of a discussion about it, I thought I'd ask it here. What do you think
how to form an llc in north dakota
?
 
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Reply #2 - Apr 6th, 2022 at 11:32pm

daisymaria   Offline
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Thanks for sharing, I will look into the next posts, and will follow you
 
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