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/biz/ - Business & Finance

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23956216 No.23956216[DELETED]  [Reply] [Original]

>start 2 llcs
>one for business one to hold a commercial property
>take loan under commercial property llc and get a building
>have your business llc pay rent to your commercial property llc and lease month by month
>take out personal loan against your equity in the commercial property llc
>default
>no tax
>repeat

>> No.23956243
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23956243

>>23956216
BOOBA

>> No.23956261
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23956261

>>23956216

>> No.23956274
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23956274

>>23956216

>> No.23956286

What a disgusting hog.

>> No.23956306

More like Angelina Gastro right?

>> No.23956318

>>23956216
Default on your personal loan that’s secured by your interest in the LLC that owns the building? Why can’t they sue you and seize your interest in the building?

>> No.23956321
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23956321

>>23956216

>> No.23956325

>>23956286
This, what the fuck is wrong with biz

>> No.23956333

>>23956286
Don't lie... You know you would go balls deep in that if given the chance... I know I would!

>> No.23956356

>>23956333
Based trips poster

>> No.23956357

>>23956216
>>default
>>no tax
I'm pretty sure when you default on a loan, you take the value of the loan as income for tax purposes. But I could be wrong on how it works for corporations.

>> No.23956407

>>23956333
I wouldn't, but I can't say no to those trips, so I gues I have to now.

>> No.23956442

>>23956318
They would seize the 100% of the LLC which owns the building when I defualt.

>> No.23956461

>>23956216
op search "piercing the corporate veil". This would probably work to protect your building in the case of a personal injury claim against the operating llc, but if you try to fuck lenders like this it isn't going to work. Common law dealt with this a long time ago

>> No.23956478

>>23956357
It seems like it would be cod income so you may be right

>> No.23956663

>>23956478
Though since I would have to give up my LLC couldn't I claim that as a loss?

>> No.23956664
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23956664

>>23956306

>> No.23956905

BOOBA!!!!!!!!!!

>> No.23956930

>>23956216
OINKA.