BEWARE of This TAX Bombshell When Transferring Property To An LLC

BEWARE! If you are considering transferring property to an LLC, you must know about this tax bombshell.

🔑 Key Insight: "What you need to do is research with the county whether or not that transfer will be a taxable event." 1:04

While transferring property to a Limited Liability Company (LLC) protects against personal liability, it also presents several potential drawbacks that should be carefully considered. For instance, there may be significant tax implications, particularly if the property has appreciated since it was initially purchased. Additionally, such a transfer may inadvertently trigger due-on-sale clauses in existing mortgages or make it difficult to obtain further financing.

In this video, I'll warn you about a potential tax bombshell when transferring property to an LLC. This bombshell could cost you a lot of money, and you want to know the situation!

I'm revealing the tax bombshell you need to know if you plan to transfer property to an LLC. Watch me to learn more about this tax bombshell and how to avoid it.

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Show Notes:
0:00 Intro
0:31 Transfer Tax
3:06 1031 Exchanges
4:41 Move Out
6:51 Joint Venture
7:51 Outro
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ABOUT CLINT COONS

Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#propertyinvestment #llc #clintcoons #taxsaving

[rafaelsegovia]

WOW, this is information overload! I love it bu I will rewatch it later so I can better understand it. Thank you 😊

[danielrodriguez-qvje]

Finally some one is mention this extra charge from the county....event moving to trust. County trigger you $$$ big time

[christytucker-bh]

We have 6 rental properties in a C corp. My old account recommend this about 7 years ago! I no longer use her. I have been researching now for a year on how to move them to my LLC without having to sell them on the new values. Any recommendations or who I can contact? Thank you

[Mudbug]

Thanks for all the info-it was perfect-Appreciate your expertise. Anderson has a great reputation. Thank you! I saved the vid and will call when ready :D

[peterbedford]

If you take someone off title, it may trigger a reassessment. Check with your county

[bossdaay]

I’m buying a property in Dallas but plan on moving it to Wyoming LLC how could I bypass the transfer tax legally

[TravelinOp]

This is the exact situation I'm facing now. My wife has ownership of our primary home which is rented to family to cover piti only, no real income. I want to know if I should deed that property to an LLC, trust, or charity? Eventually the family renting will move on and we'd like to keep it as a rental property. I currently have one Wyoming holding llc and another registered agent llc for my wholesale business I'm starting. I know I need to put everything in a trust, but what's the best option for the home? Pocket deed? Land Trust? LLC? Charity? Would like to be able to claim depreciation. Thank you, love your channel.

[RafsanSababb]

Hello Sir,
Do you need a professional YouTube thumbnail designer?

[vLife]

Miami, FL. I bought a condo 20y ago for $170k, current market value is about $320k. What can If expect moving to an LLC?