Avoid Legal Disasters: How NOT Having an LLC Can Ruin Real Estate Careers | Barbara Schreihans

Do you know the risks of not having an LLC in real estate?

Make sure to tune in and gain valuable insights from our conversation with Barbara Schreihans. Don't miss out on this enlightening discussion! In this critical episode, we delve into the often-overlooked dangers that real estate professionals face by not establishing an LLC (Limited Liability Company). Join us as tax expert Barbara unpacks the legal nightmares you could encounter and how to effectively shield your assets and future.

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Chapters:
00:32 - Introduction 
01:36 - Barbara's Unexpected Journey into Taxation
04:04 - Transitioning to Entrepreneurship in Taxation
05:36 - Understanding Real Estate Professional (REP) Status
06:28 - Strategies for Non-REP Real Estate Investors
07:28 - Importance of Cost Segregation Studies
09:20 - Flipping Homes: Tax Implications
11:25 - Importance of Having an LLC
14:21 - Essential Financial Practices for Real Estate Agents
17:51 - Educational Resources for Tax Strategy
20:00 - New FinCEN Reporting Requirements for LLCs

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