An accountant quoted me 1000 - 1500, and I’m in georgia, does this sound about right? Or can I do a lot better?
It’s going to vary state to state…I could get mine set up for $250-300 in Louisiana…
Filed mine online(LLC in the state of GA) for $100… cant beat that price.
for comparison I charge $200 plus the state fees. you get:
- the LLC
- articles of organization
- tax id number
- tax elections
- operating agreement
- free advice.
Thanks for the comparisons guys, I guess I won’t be calling that particular accountant back. I might need an accountant to look over things to be on the safe side at a later time.
You all are GREAT!!
Ok, so 100-300 to set up the llc, anyone have any idea how much to change title to the llc?
Whatever the local cost is to file a Warranty Deed…
You can do your own pricing and research at:
I went to a local title company to change title to an LLC and they said that only an lawyer could do it; something about once a title is recorded they aren’t permitted to change it.
I called a local RE Attny and he was like “yeah I guess any attny could do that” I didn’t get a price though. He didn’t sound too sure of himself.
I’m holding off because I want to get a HELOC from the property and from what I’ve read it would be easier if it was in my name.
Yeah, a few accountants and a lawyer I talked to gave me that same reaction like “uhh…yeah I think that’s right”. Doesn’t exactly inspire confidence. I’m definitely gonna keep doing my research. There are some links posted above that I’m gonna pursue - thanks William - and I’m going to look into filing a warranty deed like Keith suggested. A few hours of research to save hundreds, I’m definitely down with that. I’ll post what I find SpaceAce.
The paperwork to file a regular LLC is not that hard, alot of states allow you to do it online. First thing to do is get a TIN/EIN number from the IRS - its free on line.
If you own the property and want to transfer ownership to your LLC its not that hard. You just write a new deed and do a nominal transfer(theres more to it than that but you get the point). Some states do require an atty be involved in the transaction, some dont. IF you have a mortage on the property theres probably a clause that requires full payment to transfer the deed and you would probably have to refinance it under the LLC name (your credit) to make that happen.
usual disclaimers apply