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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Look at the QSSS entity... Posted by Ward-CA- on March 15, 2004 at 10:13 PM In Reply to: TH Trust and what other entity? posted by Alfred -- Trainee on March 15, 2004 at 6:59 PM : Hi Ward, : I'm going to begin a housebuilding project. Buying a lot, have a builder, have the plans, getting a construction loan, etc. etc. : Would like your input on the two point below: : When I purchase the lot it would be best to vest it into a title holding trust, correct? : What would you suggest as the entity that I use to do the building through, for containment and liability protection... an LLC, a C or S corp, or what? : Thanks , Alfred ==================== Alfred, I think it’s easier to work with the LLC and I like its overt emphasis on limiting your liability. But I encourage you to look into a Qualified Subchapter “S” Subsidiary (QSSS) for the entire project. My CPA is checking it out for us now. So I’ll let you know my decision when he comes up for air after April 15th. Right now it looks good for avoiding the 3.3% tax, the benefits of an “S” corp, and the 10 year protection you need as a builder/developer of real property in CA. Between now and then would be a good time for you to google it and get familiar with how it works. For starters try the keyword “QSSS”. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, : : I'm going to begin a housebuilding project. Buying a lot, have a builder, have the plans, getting a construction loan, etc. etc. : : Would like your input on the two point below: : : When I purchase the lot it would be best to vest it into a title holding trust, correct? : : What would you suggest as the entity that I use to do the building through, for containment and liability protection... an LLC, a C or S corp, or what? : : Thanks , Alfred : ==================== : Alfred, : I think it’s easier to work with the LLC and I like its overt emphasis on limiting your liability. But I encourage you to look into a Qualified Subchapter “S” Subsidiary (QSSS) for the entire project. : My CPA is checking it out for us now. So I’ll let you know my decision when he comes up for air after April 15th. Right now it looks good for avoiding the 3.3% tax, the benefits of an “S” corp, and the 10 year protection you need as a builder/developer of real property in CA. : Between now and then would be a good time for you to google it and get familiar with how it works. For starters try the keyword “QSSS”. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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