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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Look at the QSSS entity... Posted by Ward-CA- on March 29, 2004 at 8:50 PM In Reply to: Title Holding Trust posted by Alfred - Trainee on March 29, 2004 at 11:46 AM : Question for Uncle Ward... : Just opened escrow on a lot. It will be mine in 3 weeks. Going to use it to build and sell a house. Purchased the lot with my own money and the construction loan will take out the lot when it funds in a month or so. Is there any need to put the lot into a THT if I'm going to have this house built and sold within 6-8 months? Thanx in advance! =================== Alfred, If you can get a loan made directly to the Title Holding Trust (THT) then I’d do it, even for just half a year. Get an EIN number for the THT so you won’t have to pay the 3.3% tax on your gross sales price to the Franchise Tax Board at the close of your resale escrow. Here’s an alternative to the THT on both of those issues plus this one. You will have to stand behind and warranty that new house (CA requirement) to whoever owns it for a ten year period after you sell it. For all the above reasons you should check out the QSSS entity. Google it on the internet. It stands for a Qualified Sub-chapter S Subsidiary. Hope this helps. Follow Ups: Re: Look at the QSSS entity... jenv 4:18 AM, 03/30/04 (2) No, I don't think that's a great choice... Ward-CA- 7:55 AM, 03/30/04 (1) Re: No, I don't think that's a great choice... jenv 10:28 AM, 03/30/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Question for Uncle Ward... : : Just opened escrow on a lot. It will be mine in 3 weeks. Going to use it to build and sell a house. Purchased the lot with my own money and the construction loan will take out the lot when it funds in a month or so. Is there any need to put the lot into a THT if I'm going to have this house built and sold within 6-8 months? Thanx in advance! : =================== : Alfred, : If you can get a loan made directly to the Title Holding Trust (THT) then I’d do it, even for just half a year. : Get an EIN number for the THT so you won’t have to pay the 3.3% tax on your gross sales price to the Franchise Tax Board at the close of your resale escrow. : Here’s an alternative to the THT on both of those issues plus this one. You will have to stand behind and warranty that new house (CA requirement) to whoever owns it for a ten year period after you sell it. : For all the above reasons you should check out the QSSS entity. Google it on the internet. It stands for a Qualified Sub-chapter S Subsidiary. : : 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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