The complexity involving investments becomes greater with each active investment an individual has. This is primarily due to tax laws and the need to file tax returns for each investment. A new strategy is beginning to emerge that can dramatically reduce the difficulty of filling tax returns on your investments. This concept is known as a Series LLC and it will allow you to take all of your investments and merge them into one LLC, which will allow you to file a single tax return instead of multiple. If our guest is correct and this ends up being solidified in the court system, it could be extremely beneficial to current investors.
Our guest for today is Scott Royal Smith who is a real estate investor and asset protection attorney in Austin, Texas. He graduated from Albany Law School and began his career in high-stakes corporate litigation. Scott founded Royal Legal Solutions to offer tax, business, and legal strategies to real estate investors. He has spent the past 8 years of his career diving through case law, reading the ever-changing tax code, and analyzing real estate investment. He is a regular expert contributor to BiggerPockets.com as well as other real investment communities and is currently writing an eBook on asset protection strategies.
Today we are going to discuss…
- What some of the benefits are of implementing a Series LLC structure and how it could impact your business
- What are some of the things you should be cautious about when creating your Series LLC structure
- Why having asset anonymity is important and how you can create this by using land trusts
- How Delaware Statutory Trusts allow people to hold investments in syndications during 1031