I am about to purchase a rental property, should my wife and I own it, or should it be in the name of an LLC? ANSWER: Anyone with a rental or investment property should seriously consider transferring the property(ies) to an LLC. Whether they are married, have partners or own the property themselves. This is the cheapest form of liability insurance you will find (but make sure you still have regular liability insurance). If possible, set up the LLC before you take title of th

At least once a month someone asks me, why should I become an LLC instead of remaining a Sole Proprietor? What's the difference? Since so many people are asking, I thought I'd share the advantages of Limited Liability Companies for all in my latest blog. Limited Personal Liability: Only the LLC is liable for the debts and liabilities incurred by the business — not the members(“owners”). The members liability is limited to the personal interest they have invested in the com