QUESTION on What is a Partnership: Types of Partnerships My friend has created his own Greeting Card Business. He is the creator and founder. He wants a partner, and would like me to be it. We both agree on 50-50 partnership. What type of partnerships are out there like joint venture ownership? I want to know all the types of partnerships that are out there and their pros … [Read more...] about What is a Partnership: Types of Partnerships?
What is a Limited Liability Company (LLC)?
QUESTION ON All What is a Limited Liability Company (LLC)? Editor's Note: These questions were sent in by a reader who needed to make clarifications on the features of an LLC. Ms. Mould gives her answer and hopefully will clear the issue that Ms. Jay is trying to raise. Q-1 Chrissie Mould's article on S Corp vs. LLC, the author makes a grave error in stating that an LLC … [Read more...] about What is a Limited Liability Company (LLC)?
How to Use a Self-Directed IRA for Business Investing
QUESTION ON Using A Self-Directed IRA to Invest in Business Hello. I have a small business that I would like to invest additional monies in. One of the sources is a simple IRA being managed by my financial institution. I was advised that I could set up a self-directed IRA to invest that money in the business. As an S-Corp, would that be possible? And how would I go about … [Read more...] about How to Use a Self-Directed IRA for Business Investing
Can a Subsidiary LLC be a Managing Member of Its Parent LLC ?
QUESTION ON Can a Subsidiary LLC be a Managing Member of Its Parent LLC ? Can a subsidiary LLC be a managing member of its parent LLC ? That is, I have a parent LLC and it is a managing member of a sub LLC then the membership of the parent LLC is updated by including the sub LLC as a managing member of the parent LLC. What would be the pros and cons of this arrangement ? A … [Read more...] about Can a Subsidiary LLC be a Managing Member of Its Parent LLC ?
How to Use LLC to Invest Funds From a Self Directed IRA
QUESTION ON Self Directed IRAs Can I use an LLC to invest funds from a self directed IRA in real estate? If yes, how would I structure the LLC. If no, what structure can I use and how would it be structured? - Robert Panzera, New York ANSWER Dear Robert: The answer to the first part of your question is yes. The use of limited liability companies in … [Read more...] about How to Use LLC to Invest Funds From a Self Directed IRA