Sentences with phrase «used llcs»

The Real Deal teamed up with ProPublica in January to show how the real estate industry used LLCs to pump millions of dollars into Albany in order to protect the valuable 421a tax incentive.

Prosecutors are expected to show during the trial that Glenwood used the LLCs to shower millions of dollars in campaign contributions on political candidates, including Senator Skelos.

Indeed, other businesses with huge stakes in New York have used LLCs to write outsized checks to Cuomo.

In one example, cable and broadband provider Cablevision has used LLCs based in different parts of the country to make a bundle of donations worth more than $ 425,000.

Using an LLC structure is not new for billionaires engaging in philanthropic endeavors.

According to testimony, former Cuomo associate and ex-lobbyist Todd Howe told the COR Development officials, Steven Aiello and Joseph Gerardi, that they should use LLCs with titles that did not include the company name.

The commission's preliminary report, released in December, illustrated how companies use LLCs to avoid contribution limits.

Horner, with NYPIRG, says the testimony illustrates the need to clean up New York's campaign finance laws by setting stricter caps on contributions and eliminating a loophole that allows donors to use LLCs or limited liability companies, to skirt existing donor limits.

Real estate developers in particular, have used the LLC loophole to donate enormous sums.

Blair Horner, with the New York Public Interest Research Group, says while the lawsuit, if successful, would not end the practice of using the LLC's to get around contribution limits, it would force them to be more transparent about who is really behind them.

A report in Crain's reveals that a recent $ 15,842 «in - kind» contribution from Emerald City LLC, was really SL Green using the LLC loophole in election laws to pay Cuomo's rent.

In the state, there are no doing business (pay to play) restrictions, and millions of dollars of political donations to the governor and top legislative leaders are made using LLCs.

«They have used the LLC loophole for the benefit of the governor, and various committees and other legislators.

Prosecutors also showed documents that they say demonstrates $ 35,000 flowed from the Syracuse developers to the Percocos, using an LLC created by Todd Howe as a pass - through.

Reform advocates say certain wealthy individuals use LLCs to hide their identities and donate millions of dollars.

According to testimony, former Cuomo associate and ex lobbyist Todd Howe told the COR development officials, Steven Aiello and Joseph Gerardi, that they should use LLCs with titles that did not include the COR company name.

In the most recent election cycle, a single donor used the LLC loophole to contribute $ 1 million to Governor Cuomo's reelection campaign, and over $ 3 million to other political committees.

The charges against Skelos say that the developer involved in the kickback scheme used the LLC loophole to subvert campaign finance limits.

Horner said the testimony illustrates the need to clean up New York's campaign finance laws by setting stricter caps on contributions and eliminating a loophole that allows donors to use LLCs, or limited liability companies, to skirt existing donor limits.

Republican Senators do tend to benefit more from the largesse of the real estate industry and corporations that use the LLC loophole to subvert the state's donation limits.

Their candidates are often bolstered by large donations from single individuals or industries that use the LLC loophole to their advantage.

Or, are you using an LLC for the income to flow through and paying out from there?

You may not realize this, but many wealthy individuals use LLCs to invest.

The strength of using an LLC for investing comes from the LLC operating agreement.

Most use an LLC for investing for the liability protection and organization.

It's my understanding that using an LLC is essentially just the same as investing as an individual with a few caveats / bonuses:

One thing I would add to TTT's answer: One of the benefits of using an LLC for your business is right there in the name - «limited liability».

Both of these platforms allow you to use an LLC to invest, but you'll have to talk to their customer service teams to get started.

Real estate is still a great scenario for using an LLC, especially if you're going to be allocating income and expenses differently than ownership.

If I invest $ 13,000 in a stock that is traded publicly (without using an LLC), and that $ 13,000 invested isn't 5 % of the company, then could anyone / general public «search» my name or somehow see our investment?

Use an LLC or corporation to more fully separate the work you do from your personal finances (so they can go after company assets, but not personal, at least not as easily), engage an insurance firm for Errors and Omissions insurance (I pay about $ 500 / year for this), and write the contracts so that your liability is limited.

Note, further, that it's not only a question of whether or not to use an LLC, but also where to form that LLC.

Even then, under current regulations, it retains flexibility in regulating how it operates (you can use an LLC Operating Agreement to outline your LLC's operating terms).

A former AriseBank executive, speaking to Business Insider under the condition of anonymity, said there was «zero paperwork» for the firm, and that Rice was using the LLC registration of his other company, marketing firm Dotoji, to do business.

Outside of California, I use an LLC.

One thing in particularly is the legal entity, where I see people say buy properties under LLC for asset protections and tax breaks, but I also it's impossible to get a loan from bank using LLC.

It will be more beneficial if you trying to build a brand and that would be a great way to do so but keep in mind there are more fees associated with a RE agent using a LLC.

But as motivation to use an llc, llcs need seasoning time if they don't have substantial assets.

I understand the simplicity of acquiring properties personally but I have specific reasons for using the LLC that have nothing to do with asset protection.

I would use an LLC.

A main reason for using the LLC is to isolate liability.

My mortgage is in the name of the LLC, using the LLCs EIN, but I personally guarantee the mortgage.

If you use that LLC to do both and you have not elected to be taxed as an S or C - corporation it will be treated as a Schedule C and all of the income will be subject to self employment tax.

Mine did, but the driving factors for me using an LLC weren't to avoid liability over payment for asset as much as attempting to place a firewall between my personal and business dealings.

Say, for example, you have an offer accepted with your LLC on a home for $ 50K (you signed the PA, using the LLC «ONETWOTHREE MAIN, LLC», of which you are the owner).

@Mike M. I use LLCs in the same manner as you, it appears, however I've recently been told that it is not as good of a firewall as its made to believe since you are the owner of your LLC.

If you do have LLC, it's better to use LLC as beneficiary as an extra layer of protection.

Jason Feldman, a real estate investor in Florida, purchased a Trump condo in Las Vegas in December using an LLC.

Disc 1: Includes samples of operating agreements, partnership agreements, real estate investment trusts, and articles on tax treatments of LLC and the «why's» of using an LLC

The misunderstood myths - Knowing when you are ready to start an asset protection strategy - Using LLCs, trusts, insurance properly - How to shield your business and personal assets from liability - Building a wealth plan for long term prosperity