Many clients have asked us if they should place their real estate investments into an LLC. The answer is clear that if you do:
- You can only place one managed property or group of contiguously located properties into your LLC
- Make sure you get the property properly appraised
For those with properties in LLCs already meeting the criteria, you will also have to contend with the change in accounting principal which is a cumulative change as if this had always been accounted for under the new guidelines changed in SSAP No. 40. Let us help walk you through the details. Contact James Dougherty, CPA, at 818-334-8628 or click here for email. We look forward to hearing from you.