This is awesome info. I’d love to show you how to use an asset protection trust to house the holding company to create the ultimate asset protected, tax efficient, business succession structure/plan.
Hello Edward do you have a video or training on how to select the right type of trust and holding company. I've seen videos on different types of business trusts that exists. Can you provide more insight?
Cool video. But how do you pay all of your employees for each business? Do you do all of that from the holding company since you've elected not to file for each entity?
Great video!! I do have a question though... Let's say that I currently own four different LLC's and then opened a holding company like you mentioned for my LLCs to be placed under. Would I still be required to file taxes for each of these four LLCs or instead would I now just file taxes for the holding company, due to the holding company owning them all?
If you have EINs for those 4 existing LLCs, then YOU DO have to file taxes for those 4 LLCs regardless if the Owner(s) or Member(s) are natural persons (human beings) or other entities like another LLC. Around the 14min mark, he explains about how he has his operating/management/real estate/etc companies as "Disregarded Entities" (i.e. LLCs without an EIN). In his example, his Holding Co owns his operating/management companies and the taxes owed by those operating/management companies "flow through" to the Holding Company's tax returns because the Holding Company is the only company that has the EIN. Talk to an Accountant specializing in businesses. There are lots of ways to structure a company legally and for taxation purposes depending on your type of business you operate.
The trustee holds the assets on behalf of the trust and can be an individual (living human) or a company. Should always choose the company to be the trustee so you get the asset protection from the corporate vail
The management company should be used for commerce and business operations and whatever your company does to make revenue. The holding company should ONLY be used to hold assets through seperate LLCs. DO NOT have the management under the holding company, or at least not the same holding company as the one holding the assets. Always keep your business operations and your equity in two different entities for max protection.
This is awesome info. I’d love to show you how to use an asset protection trust to house the holding company to create the ultimate asset protected, tax efficient, business succession structure/plan.
I will say u have one of the best content out there on TH-cam
Hello Edward do you have a video or training on how to select the right type of trust and holding company. I've seen videos on different types of business trusts that exists. Can you provide more insight?
Thank you for making this video
Cool video. But how do you pay all of your employees for each business? Do you do all of that from the holding company since you've elected not to file for each entity?
Thanks😊
How do you put the llc under the holding company? Just send the funds to the holding company? Or do you need to put it in writing
yeah the holding company is the owner (or sole member) of the llc. LLCs are pass through so all of the funds after expenses will go up to Hold Co.
Gold
Where should I open a holding company? Is that also started as a LLC?
Almost always a LLC, but your CPA/Attorney should guide you based on your circumstances
Great video!! I do have a question though... Let's say that I currently own four different LLC's and then opened a holding company like you mentioned for my LLCs to be placed under. Would I still be required to file taxes for each of these four LLCs or instead would I now just file taxes for the holding company, due to the holding company owning them all?
Did you watch the video? He talks about this around the 14 minute mark.
He talks about it in min 14:18
If you have EINs for those 4 existing LLCs, then YOU DO have to file taxes for those 4 LLCs regardless if the Owner(s) or Member(s) are natural persons (human beings) or other entities like another LLC. Around the 14min mark, he explains about how he has his operating/management/real estate/etc companies as "Disregarded Entities" (i.e. LLCs without an EIN). In his example, his Holding Co owns his operating/management companies and the taxes owed by those operating/management companies "flow through" to the Holding Company's tax returns because the Holding Company is the only company that has the EIN. Talk to an Accountant specializing in businesses. There are lots of ways to structure a company legally and for taxation purposes depending on your type of business you operate.
rewatch the video
Is your Holding company member managed or manager managed and who is listed as the member and manager? The trust on both?
If a trust owns an anonymous holding company, could the trustees be held liable and used to prove "ownership" to some extent?
Huh? If a trust owns the holding company, then the trust owns it. what is there to prove?
The trustee holds the assets on behalf of the trust and can be an individual (living human) or a company. Should always choose the company to be the trustee so you get the asset protection from the corporate vail
isn’t a management company better? a holding company puts multiple LLc assets at risk.
Meaning if one of the LLCs fails/goes bankrupt it affects the holding company?
The management company should be used for commerce and business operations and whatever your company does to make revenue. The holding company should ONLY be used to hold assets through seperate LLCs.
DO NOT have the management under the holding company, or at least not the same holding company as the one holding the assets. Always keep your business operations and your equity in two different entities for max protection.