Commercial real estate and Property Management company
My siblings and I own a holding company for a commercial office building. The building is currently being managed by my brother who's also running his own law practice and he's swamped. I'm going to start helping him and considering starting up my own property management company. Any idea if there's any benefits to or issues with creating the company within the holding company, and pay the company, or not create a separate company and pay me as an employee? Or is this an attorney question? Thanks!
[{"id": "hsawv6a", "text": "Tax question then attorney question", "replies": [], "depth": 1}, {"id": "hsaxl4e", "text": "To make it cleaner, would have it as a separate company with it's own business insurance. But that might be a lot of added cost if your just going to manage your own portfolio and nothing external.", "replies": [], "depth": 1}, {"id": "hsb1tho", "text": "Accountant questions and legal questions", "replies": [], "depth": 1}, {"id": "hsb2mxm", "text": "Talk with a CPA. I don\u2019t think a separate company (still owned by the same people) will provide much benefit.", "replies": [], "depth": 1}, {"id": "hsc0j32", "text": "Using a separate company segregates liability. If one company gets sued, the other is not part of it.", "replies": [], "depth": 1}, {"id": "hssm7r2", "text": "As a separate company you can start managing other buildings than just the family asset. i.e. more money", "replies": [{"id": "hssq4c6", "text": "That\u2019s what I was thinking, learn the ropes with our building and then expand to more clients.", "replies": [], "depth": 2}], "depth": 1}]