At present, my property holdings fall under one S-Corp. Would I be better of incorporating each multiple dwelling? I can see the benefit from a liability perspective but the tax ramifications seem like a lot more trouble. Your thoughts are welcome.
There are several theories that merge such entities when they share managers, employees, directors, and/or owners. This type of set up is more guru wishful thinking than real protection.
BLL,
Why do you say “guru wishful thinking?” Is there not real benefit to it?
Regards,
Gurus don’t know what really works because they don’t defend their plans in court and I doubt they even review recent cases. Some still push ideas that have failed in court. If they truly understood the issues involved, they wouldn’t use terms like bullet-proof or splash “protection from lawsuits” all over their material. These things are used as evidence to prove the intent was to frustrate creditors in their attempts to collect a judgment, which is illegal in this country. The result is a collapse of the plan and a poor impression in the eyes of the judge.
Thanks BLL.