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Video instructions and help with filling out and completing Who Form 2220 Entities

Instructions and Help about Who Form 2220 Entities

What is the best legal entity to buying rental real estate that's today's video let's dive in hi there I'm Clayton Morris I'm the founder of Morris invest in a long time real estate investor and one of the areas that we don't really talk about much I think because it maybe doesn't sound as sexy as you know the cash flow that we get from rental real estate or the taxes that we save from owning rental real estate but how you structure your business inside of a legal entity in order to protect yourself is incredibly important you know what if a tenant slips and falls and one of your rental properties and you have that property in your own name John Smith well the problem is if that tenant sues you and it's in your own name and that rental property is in your own name you could be in for a world of hurt because now that plaintiff that tenant can come after not only the rental property assets with all of your personal access as well so John Smith all of your personal assets are now open because you bought that rental property in your own name huge mistake so is there a better legal entity for owning real estate than another one again this is something you absolutely want to consult with your own lawyer and your own accounting team on I am NOT a lawyer so full disclaimer I'm not a lawyer and I'm not an accountant I'm simply going to tell you the way that we have structured our business and our rental properties at the behest of lawyers and accountants again I'm not a lawyer not an accountant regardless of any of this you always want to have liability insurance so...

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