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When you are ready to move forward with your next real estate investment, you may want to consider having our firm CREATE a new or REVIEW your current Limited Liability Company (LLC) and Operating Agreement to make sure you limit your personal assets from liability in the event of litigation. A properly structured Real Estate LLC with an operating agreement allows the owner to buy, sell, or rent their property without the worry of their personal assets being put into jeopardy. LLCs offer strong benefits aside from just liability protection, such as pass-through taxation, and flexibility in business structure. To further protect all your assets, it may be advised to keep a single investment in it’s own Real Estate LLC entity.

Purchasing real estate under the umbrella of an LLC provides the investor with much needed protection for themselves. The protection alone is pivotal for investors to reduce the amount of risk associated with real estate investing. This is crucial for investors to shield their finances from potential legal actions. For instance, if you or a member fail to make payments on a loan for the property and the debt is in the LLC’s name, you would not have to risk wiping out your personal assets to satisfy the remaining loan and creditors will not be able to seek payment from other members in the LLC.

A Limited Liability Company (LLC) is known as a ‘pass through entity’ because they are exempt from paying corporate taxes. Meaning all proceeds of the company are used to pay debts and are then distributed accordingly to its members to pay individual taxes on. Members can then write off the LLC in their taxes as a profit or loss in their personal income. Additionally, if your LLC is used for managing rental properties, you may be eligible for an additional personal income tax deduction. When deciding on the distribution of the companies proceeds, LLCs offer a flexible business structure to apportion appropriately.

To properly structure an LLC, investors use what is known as an Operating Agreement.

Operating Agreements allow the company to set, for each member, a framework to accommodate for each other and to distribute ownership. Setting up operating agreements is only required depending on the state in which the entity has been formed. These can be referenced when needing to resolve problems or disputes that could occur within the company. Unlike Operating Agreements, Articles of Organization must be filed to legally establish the entity with the state. Together they are the framework for your Real Estate LLC.

While purchasing real estate without the protective vail of a limited liability company is legally possible it is deemed unwise. Investors might find that the strategic choice of real estate management through an LLC is a crucial step into the real estate market. With the major advantage of highly mitigating financial risk, tax advantages and asset protection investors can leverage their LLC to venture through the unprecedented world of real estate investing.





A Transfer on Death (TOD) designation for a business is a must if you have more than one member or shareholder. The Transfer on Death is a mechanism that allows the seamless transfer of ownership or control of a business interest to a designated individual upon the death of the current owner. This is a way to plan for the succession of a business without the need for probate.

For example, if a spouse untimely passes away, the Transfer on Death can designate the surviving spouse to receive all of the decease ownership in the business.

The specifics of a Transfer on Death for a business can vary depending on the jurisdiction and the type of business entity. Here are a few common scenarios:

Transfer on Death for Business Interests:

For sole proprietorships or partnerships, the business owner can designate a specific individual or individuals as beneficiaries who will receive the business interest upon the owner’s death.

Transfer on Death for Corporate Stock:

In the case of a corporation, an individual can specify beneficiaries for their shares of stock through a Transfer on Death designation. This allows the designated individuals to inherit the stock outside of probate.

For an LLC, the owner can often designate beneficiaries for their membership interests using a similar TOD designation. It’s crucial to work with legal and financial professionals when setting up a Transfer on Death for a business, as the structure and requirements can vary based on the business type and local laws. Additionally, businesses often have complex ownership structures and contractual agreements that need careful consideration in the estate planning process.

In some cases, a comprehensive business succession plan may involve a combination of tools, such as a Buy-Sell Agreement, a will, or even the establishment of a business trust. These decisions depend on the unique characteristics of the business and the goals of the business owner.

Please submit your contact details below to discuss the Transfer on Death designation for your Corporation or LLC.




Some entrepreneurs opt for an easier business model like a sole proprietorship due to its simplicity. However, as a business finds itself growing, they may find it beneficial to go from a sole proprietorship to an LLC or Corporation.

Deciding which business structure to choose plays a significant role when using the entity for anonymity, asset protection, and tax savings.


One reason a business would choose to convert to an LLC or Corporation would be due to the liability protection they offer. Both LLC and Corporations offer a cloak of protection that separate one’s personal assets with the businesses. In essence, if the business under goes financial or legal troubles, personal assets can’t be targeted. Serving as a sort of veil of protection for the business owners’ personal assets. This sort of protection is critical for a business owners own security.


Now, both LLCs and Corporations offer a better financial structure for your business because of the flexibility they offer over a Sole Proprietorship. Corporations have the option to choose between C-Type or S-Type Corporations depending on the circumstances. While LLCs have a pass-through option for the business, allowing the taxes to flow through to the owners’ personal taxes, simplifying the tax process.


LLC’s and Corporations also have legal requirements and formalities that need to be upheld on an annual basis, like meetings and maintaining proper reports. Even though this might come off as cumbersome to some, this proves to give clarity on the path to success. Unlike sole proprietorships or partnerships which are bound to the life of the owner, Corporations and LLC’s can be passed on to the next generation of owners perpetually. Allowing for clearer business structures, and the ability to draft legal documents. This allows businesses to plan for a solid and financially successful future.

Converting to either an LLC or Corporation should be considered a strategic move for sole proprietorships. This could bring many benefits to your business by bringing tax benefits, liability protection and an opportunity for growth. However, the decision to convert should be made with careful consideration to the specifics of each other’s situation.

Spiegel & Utrera, P.A. offers free legal advice to help you start the process of converting your sole proprietorship into an LLC or Corporation. Submit a request today for immediate legal assistance.

Please submit your contact details below for a FREE consultation on CONVERTING your sole proprietorship to a Corporation or LLC.


MBE Certification and Special Funding for Minority-owned Businesses in 2024

MBE Certification and Special Funding for Minority-owned Businesses in 2024 published on

Minority-owned Businesses with MBE Certifications get Special Funding and Benefits in 2024

Government programs are available for minority-owned businesses with an MBE certification. Obtain an MBE certification and benefit from business loans, investment capital, disaster assistance, surety bonds, special grants, commercial and federal contracts, business networks, and client databases by obtaining one of the following:

  • MBE (Minority-owned Business Enterprise)
  • MWBE (Minority/Women-owned Business Enterprise)
  • DBE (Disadvantaged Business Enterprise)
  • NMSDC (National Minority Supplier Development Council)

Over 4.7 million small businesses are owned and operated by women, minorities, and veterans—and are to thank for creating 4.7 million jobs within the last 10 years. Unfortunately, such small businesses face a layer of vulnerability obscure to their majority counterparts. Minority-owned businesses are much less likely to get contracts, loans, and on average, get half of what they otherwise would from lenders and investors. To stimulate the economy and help disadvantaged small businesses compete, the government is offering special programs to those that get certified. The programs are not designed to be charity, nor do they give minority-owned businesses special treatment; it is an attempt to level out the playing field by increasing visibility and the number of potential opportunities.

How to get Minority-owned Business Certification?

To get a minority-owned business certification, you and your company or corporation must meet specific criteria and qualifications. First, your business must be at least 51% owned, managed, and operated by minority group members of U.S. citizenry and have good moral character. The company, corporation, partnership, sole proprietorship, or franchise must be for-profit and located in the U.S. or its trust territories.

How to register as a minority-owned business?

To register as a minority-owned business and obtain an MBE certification, you can start the process today by filling our online form or by calling (800) 603-3900. Applying for an MBE certification is a legal process; our in-house lawyers can help you meet the certification criteria and qualify for the special funding and benefits it provides. Please note that a minority-owned business MBE certification includes legal documents such as the articles of incorporation or certificate of organization, stock certificates, company minutes, operating agreements, and corporate bylaws, among other records. Our law firm helps minority-owned businesses incorporate, litigate, and satisfy government guidelines, giving you a fair chance to grow into a profitable and sustainable entity. Utilize our arsenal of legal and business abilities to your full advantage. Call us for a free consultation now!

Company records book and seal are important in obtaining your MBE certification. If you’ve lost your corporate kit, we can help you replace it when processing your application.

MBE Certification Benefits

The MBE certification benefits minority-owned entities by enabling access to many business opportunities and connections, such as:

  • Prospective Buyers
  • Government Agencies
  • Procurement Professionals
  • Capital Funders
  • Supplier Databases
  • Commercial Contracts
  • Federal Contracts
  • Technical Assistance
  • Leadership Tools
  • Technology Programs
  • Educational Programs
  • Affordable Consulting
  • Networking Opportunities
  • Exposure to other MBE’s
  • Partnership Opportunities
  • Business Opportunity Exchange
  • Annual Golf Tournament
  • Business Alliance Forum
  • MBE Annual Business Meeting

MBE Tax Benefits

As an MBE-certified minority-owned business, you don’t receive any special federal tax breaks or incentives. However, you can receive tax benefits for working with other MBE’s and those that operate in low-income areas. You can also get tax relief from establishing your business in specific zones or locations. Also, entities of certain types may be eligible for tax credits and programs to promote economic development in disadvantaged markets and industries.

Minority-owned Business MBE Certification Checklist

The MBE certification checklist below will give you a general guideline on the process of this effort:

  • ☑ Review Criteria for Certification.
  • ☑ Gather Personal and Business Documentation.
  • ☑ Complete the Online Form.
  • ☑ Application Review for Accuracy.
  • Legal Advice from Our Lawyers.
  • ☑ Application Review by Authorities.
  • ☑ Final approval.
* Please give our attorneys up to 4 business hours to call your phone. Thank you.

Minority Loan Programs

You can find several potential loan options for minority-owned businesses that obtain the MBE certification, including:

  • SBA (7) Loans – Up to $5M
  • SBA Community Advantage Loans – Up to $250,000
  • SBA Microloan Program – Up to $50,000
  • Union Bank Business Diversity Lending Program – Up to $2.5M
  • Business Center for New Americans – $500 to $50,000
  • Business Consortium Fund Loan – $500 to $50,000

How to apply for a minority business grant?

There are grant opportunities for minority-owned small businesses that you can find online after obtaining your MBE certification, among those are:

  • Small Business Innovation Research (SBIR)
  • USDA Rural Business & Waste Disposal Grants
  • Minority Business Development Agency (MBDA)
  • The National Association for the Self-Employed (NASE)
  • Asian Women Giving Circle Grants

MBE Certification Requirements

The requirements for an MBE certification include:

Meeting the Certification Criteria

  • United States Citizen.
  • Minority-owned businesses must be at least 51% owned and operated by minorities.
  • Must be a for-profit entity.
  • Must be located in the United States or its Trust Territories.

Requirements for All Businesses

  • Driver’s License
  • Proof of U.S. Citizenship
  • Two Years of Federal Tax Returns
  • Current Financial Statements
  • Applicable Business Licenses
  • Business Lease Agreements
  • Proof of EIN

Requirements for Corporations

Requirements for LLC’s

The development of your minority-owned business or agency

At Spiegel & Utrera, P.A., we have been committed for decades to providing minority-owned businesses affordable business formation with complete records book and seal, experienced legal and business counsel, and written agreements. We’re open Monday to Friday from 8:30 am to 5:30 pm. Feel free to give us a call at (800) 603-3900 with any business or legal questions; we’re happy to help your MBE-certified business get to the next level.


GIG ECONOMY LLC published on

The gig economy is also known as the sharing, on-demand, or access economy. It usually includes businesses that operate a digital platform to connect people to provide services to customers.

While there are many types of gig economy businesses, ride-sharing and home rentals are two of the most popular. Users of the digital platform (e.g., Uber, Lyft, Door Dash, VRBO) earn income providing on-demand work, services or goods.

Workers operating as drivers or other on demand work in the gig economy are classified as independent contractors rather than employees. It is recommended that Uber, Lyft, or other on demand workers form a Gig Economy LLC and use this tool to lower your tax bill and to protect your assets.

Benefits of Spiegel & Utrera, P.A.’s Gig Economy LLC

Lower your Tax Bill with a Gig Economy LLC

By reporting Uber, Lyft, Door Dash, VRBO, etc. earnings under the umbrella of a business structure you may be able to lower your tax bill. An accountant or tax preparer will be able to assist you with deductions related to paying for health insurance, setting up a retirement account, claiming the qualified business income deduction, car expenses, depreciation expenses, home office deductions, financing costs for your business.

Avoid Personal liability with a Gig Economy LLC

Working in the gig economy can mean freedom and a better income, but it also means personal liability if there’s an accident or misunderstanding between you, the client, or the digital platform.

You will want to protect yourself and family assets by forming a Gig Economy LLC. LLCs generally don’t require a ton of maintenance, the LLC protects your assets, and offer potential tax savings.

Operating your business as a sole proprietorship (yourself) or as a DBA is not recommend because your personal assets — like your house, car, personal bank accounts, etc. — would be at risk if you are sued.

What are the benefits of forming a Gig Economy LLC

Limited Liability Protection

Starting with the most crucial benefit of a GIG ECONOMY LLC, limited liability can separate the financial and legal obligations of the company from its members. In case of a lawsuit, you can be protected due to a legal shield the entity provides, which defends personal assets. Keep in mind that this liability protection is limited and will not shield a member from wrongful or illicit acts.

Pass-Through Taxes

Another vital benefit of a GIG ECONOMY LLC is its ability to avoid federal income taxes. Taxation will bypass the LLC and go directly for the members’ profits. In this scenario, all of the money earned by the LLC can go straight to the member, and taxation will only occur on their income. Other entities such as a C-Corporation don’t have this advantage, and its leaders are essentially taxed twice.

Simplicity and Flexibility

Other GIG ECONOMY LLC benefits include its ease in formation and simplicity to sustain when compared to other entities. You don’t need to maintain certain company formalities or file taxes for the single-member LLC. You also have the flexibility of functioning as a single-member LLC, a multi-member LLC, or a multi-member LLC led by an operating manager.

Increased Perception of Credibility and Reliability

As a formal business entity, a limited liability company receives the perception of a more trustworthy business structure when compared to an individual or a sole proprietorship. Starting a GIG ECONOMY LLC adds an extra layer of reliability for employees, customers, and other businesses. Your LLC is required to adopt ‘LLC’, ‘L.L.C.’ or ‘limited liability company’ into its name, which immediately lets people know that you are a formal business and not just a fly-by-night company.

Who participates in the Gig economy?

Gig economy workers accounted for 14.1 percent to 20.5 percent of all workers in the United States. Gig economy workers on average are older than the entire workforce and the average age of gig workers has increased more rapidly. In addition, gig economy workers are more likely to be married than all workers, but the spouses of gig economy workers are less likely to have full-time jobs.



Over the years, just like updates, improvements, and filings for your business are required, an upgrade of your Articles of Incorporation or Certificate of Organization may be required as well. If you used our firm to form your company, you may already have comprehensive incorporation or articles of organization documents. However, as time goes on and changes occur in your business, a second revision or upgrade to the articles or certificate of organization may be required. Go here to request your Articles of Incorporation 2.0 Upgrade.

Articles of incorporation or certificate of organization serve as the foundational documents for your entity. They outline the name of the corporation, structure of your entity, effective date of formation, purpose, registered agent, principal office, duration, authorized shares, board of directors information, incorporator information and other clauses to protect you and your business.


Upon review of your Articles of Incorporation or Certificate of Organization, it may be that your document is missing restrictions on the transfer of shares, missing indemnification clauses, and missing special voting rights provisions. Amending your documents to include the ladder mentioned, is a significant upgrade to protect your business, members and directors.

Additionally, the entity will want to have it’s company documents upgraded prior to there being a need for another party or investor to review these documents. It’s important to note that while (in some states) articles of incorporation are a publicly accessible document, certain details and information about the corporation can also be found in other documents, such as annual reports, bylaws, and filings with regulatory agencies. When sharing your articles of incorporation, it’s a good practice to provide complete and accurate company documents to ensure accurate representation of your corporation’s structure and purpose. It’s good practice to keep all your company documents in one place and keep them handy and organized in your company book and binder.

Here are just a few items that may trigger an upgrade to your Articles of Incorporation:

  1. Change in Company Name: If your business decides to change its legal name, you will typically need to upgrade the Articles of Incorporation to reflect this change.
  2. Change in Business Purpose: If there is a significant change in the primary purpose or activities of your business, you may need to upgrade the Articles of Incorporation to reflect the new business purpose.
  3. Change in Share Structure: Any changes to the authorized shares, classes of shares, or the rights and privileges associated with those shares may require an upgrade with an amendment to the Articles of Incorporation.
  4. Change in Directors or Officers: If there is a change in the board of directors or officers of your business, you may need to upgrade the Articles of Incorporation to reflect the new individuals in these positions.
  5. Amendments to Governing Documents: If you wish to make other amendments to the governing documents of your corporation, such as changing the bylaws, you may need to upgrade the Articles of Incorporation to reflect these changes.
  6. Conversion or Merger: If your business undergoes a merger, consolidation, or conversion into a different type of entity, you may need to upgrade the Articles of Incorporation to reflect these structural changes.



  1. Government Authorities: State and local government agencies, such as the Secretary of State’s office or the relevant state’s corporate regulatory body, will have access to your Articles of Incorporation. These agencies use this document to officially recognize and register your corporation.
  2. Internal Use: Members of the corporation, such as shareholders, directors, and officers, often need to access the Articles of Incorporation to understand the organization’s legal structure, purpose, and governance provisions.
  3. Lenders and Financial Institutions: When seeking loans or financing, banks and lenders may request a copy of your Articles of Incorporation to verify your business’s legal existence and structure.
  4. Investors: Potential investors and venture capitalists may request or review the Articles of Incorporation to understand the company’s structure, share classes, and any special rights associated with shares.
  5. Business Partners: When entering into contracts or agreements with other businesses, your partners or vendors may request a copy of the Articles of Incorporation to ensure that they are dealing with a legitimate legal entity.
  6. Legal Counsel: Your corporate attorney or legal advisors may need access to the Articles of Incorporation when providing legal advice or making amendments to the document.
  7. Regulatory Agencies: Depending on your industry, specific regulatory agencies or bodies overseeing your business may require access to your Articles of Incorporation to ensure compliance with industry-specific regulations.
  8. Shareholders or Members: Shareholders and members may request copies of the Articles of Incorporation when participating in corporate governance decisions or to understand the company’s governing rules and structure.
  9. Courts and Litigation: In the event of legal disputes or litigation, courts may require access to the Articles of Incorporation to understand the corporation’s legal structure and relevant details.
  10. Prospective Buyers: If you are considering selling your business, potential buyers may request or review your Articles of Incorporation to understand the company’s legal and financial standing.




Can employees record almost anything at work now? If you’re an employer, here is what you need to know:

In the digital age of smartphones and social media, employee workplace recordings have become increasingly common, capturing moments of confrontation with rude customers or venting about work-related issues. However, in some states, employers must be aware of the broader legal implications such recordings can have in the workplace.

The prevalence of workplace recordings has led some employers to consider an outright ban on such activities to avoid potential complications. Nevertheless, federal labor law, particularly the National Labor Relations Act (NLRA), grants employees the right to record in the workplace during “protected concerted activities.” These activities include discussing wages, benefits, and working conditions, as well as union organizing and collective organizing efforts.

Workplace Recordings and What You Need to Know


The National Labor Relations Board (NLRB) reinforced this protection in a recent ruling in February 2023. The NLRB found that two employees who secretly recorded management conversations engaged in protected concerted activity as they were concerned about potential retaliation for their unionization efforts.

However, this protection under the NLRA does not necessarily give a party the green light to record in the workplace. Workplace recordings may inadvertently violate wiretapping laws, privacy laws, and confidentiality and trade secret concerns. Several states have specific wiretapping laws that prohibit recording conversations without the consent of all parties involved, potentially rendering some employee recordings unlawful.

Employers must tread carefully when implementing recording policies. A blanket ban may violate NLRA rights, while a laissez-faire approach may jeopardize the security of confidential information. Employers are encouraged to craft tailored workplace recording policies that protect sensitive information and respect employee rights to engage in protected concerted activities under the NLRA. Striking the right balance will be crucial for California businesses to navigate this complex legal landscape effectively.


ADVANTAGES OF A MONEY SAVING 501(C) Non Profit IRS Classification

ADVANTAGES OF A MONEY SAVING 501(C) Non Profit IRS Classification published on

Having a 501(c), converting an existing corporation to a 501(c), or using a 501(c) organization under the umbrella of your entity can help your business save money, get money, attract people to the corporation and your cause, get discounts on services for the corporation, get access to specialized services for your corporation, and more. And of course, is complete with limited liability protection for your corporation. Having a 501(c) organization, which refers to a tax-exempt nonprofit organization under the Internal Revenue Code section 501(c), comes with many benefits.

Here is an expanded and complete list of the different Money Saving 501(c) nonprofit classifications recognized by the IRS:

501(c)(1): Corporations organized under the Act of Congress (including Federal Credit Unions)

501(c)(2): Title-holding corporations for exempt organizations

501(c)(3): Charitable, religious, educational, scientific, literary, testing for public safety, or prevention of cruelty to children or animal organizations

501(c)(4): Civic leagues, social welfare organizations, and local associations of employees

501(c)(5): Labor, agricultural, or horticultural organizations

501(c)(6): Business leagues, chambers of commerce, real estate boards, etc.

501(c)(7): Social and recreational clubs

501(c)(8): Fraternal beneficiary societies and associations

501(c)(9): Voluntary employees’ beneficiary associations

501(c)(10): Domestic fraternal societies and associations

501(c)(11): Teachers’ retirement fund associations

501(c)(12): Benevolent life insurance associations, mutual ditch or irrigation companies, mutual or cooperative telephone companies, etc.

501(c)(13): Cemetery companies501(c)(14): State-chartered credit unions, mutual reserve funds

501(c)(15): Mutual insurance companies or associations for casualty, etc.

501(c)(16): Cooperative organizations to finance crop operations

501(c)(17): Supplemental unemployment benefit trusts

501(c)(18): Employee-funded pension trusts (created before June 25, 1959)

501(c)(19): Post or organization of past or present members of the Armed Forces

501(c)(20): Group legal services plan organizations

501(c)(21): Black lung benefit trusts

501(c)(22): Withdrawal liability payment fund

501(c)(23): Veterans’ organizations (created before 1880)

501(c)(24): Section 4049 ERISA trust organizations

501(c)(25): Title-holding corporations or trusts with multiple parents

501(c)(26): State-sponsored organization providing health coverage for high-risk individuals

501(c)(27): State-sponsored workers’ compensation reinsurance organization

501(c)(28): National Railroad Retirement Investment Trust501(c)(29): Qualified nonprofit health insurance issuers participating in the CO-OP program

501(c)(30): Qualified nonprofit organizations that provide health coverage for patients in certain areas

501(c)(31): Qualified nonprofit organizations operating as Medicare Prescription Drug Card Sponsors


To obtain a favorable Federal Income Tax exemption determination from the Internal Revenue Service, your corporation will be subjected to a lengthy (about 6 to 9 months regularly, 2 to 3 months if expedited) and often cumbersome Internal Revenue Service investigation and approval process. During this period, the Internal Revenue Service will review the documents provided, make additional demands, and scrutinize corporate records and detailed information regarding your corporation’s activities. Your Articles of Incorporation, Corporate By-laws, and other corporate documents must include the proper information to comply with Internal Revenue Service Regulations. If you have an existing non-profit corporation that does not meet the requirements of 501(c)(3), it will be necessary to make changes to the Articles of Incorporation and draft the appropriate corporate documents so that your non-profit corporation is in compliance.


1. Tax-exempt status: The primary benefit of being a 501(c) organization is the exemption from federal income tax. This means that the organization’s income, donations, and certain activities are generally not subject to federal income tax, allowing more resources to go toward the organization’s mission.
2. Deductible donations: Donors to 501(c) organizations can generally deduct their contributions from their taxable income, incentivizing individuals and businesses to support charitable causes. This can help attract more donations and support for the organization.
3. Eligibility for grants and funding: Many foundations, government agencies, and other grant-making organizations provide funding exclusively to tax-exempt 501(c) organizations. Having 501(c) status can enhance an organization’s eligibility for grants and increase opportunities to secure funding for projects and programs.
4. Credibility and trust: Being a recognized tax-exempt organization lends credibility and trustworthiness to the organization. Potential donors, supporters, and stakeholders often view 501(c) status as a mark of legitimacy, which can boost confidence in the organization’s mission and activities.
5. Eligibility for certain exemptions and discounts: 501(c) organizations may be eligible for various exemptions and discounts, such as property tax exemptions, reduced postal rates for mailings, and discounts on certain goods and services.
6. Access to certain resources and services: Nonprofits with 501(c) status may have access to specialized resources and services, such as discounted software, volunteer support networks, capacity-building programs, and training opportunities offered by nonprofit associations or foundations.
7. Limited liability protection: Forming a nonprofit corporation under 501(c) status can provide limited liability protection to the organization’s officers, directors, and members, shielding them from personal liability for the organization’s debts and obligations in most cases.

It’s important to note that specific benefits and requirements may vary depending on the particular 501(c) classification and applicable state laws. Consulting with legal and tax professionals or nonprofit experts is advisable to fully understand the benefits and obligations associated with obtaining and maintaining 501(c) status.

For example, a 501(c)(3) organization is a non-profit corporation formed to carry out a charitable, religious, literary, educational, or scientific purpose that is recognized by the Internal Revenue Service as tax-exempt. Such a 501(c)(3) non-profit corporation doesn’t pay federal or state corporate income tax on profits it makes from events carried out in furtherance of its exempt function. In essence, this is because both state and federal taxing authorities believe that the benefits the public receives from these organizations entitle them to this advantageous tax-exempt status. These corporations are known as 501(c)(3) non-profit corporations because they are granted tax-exempt status from Section 501(c)(3) of the Internal Revenue Code.



There are several reasons why a business might consider moving to another state, a.k.a. domestication. Before moving, business owners will have to do an analysis on the cost and overall benefits to domesticating the business in another state. The cost of doing business can vary greatly from state to state. Businesses may choose to move to states with lower taxes, cheaper labor costs, and more affordable real estate.


In addition to cost savings, there are other reasons that may cause a business to move to another state. A business may want to move to a state with a larger pool of skilled workers, such as a state with a strong tech industry or a large university system. Moving closer to customers can improve a business’s ability to provide timely and efficient service. Some states are known for having more business-friendly regulations, which can make it easier and less expensive to operate a business.

Additionally, a business may need to move to another state to expand its operations or take advantage of new opportunities. Sometimes, business owners may choose to move to another state for personal reasons, such as to improve their quality of life or be closer to family.

It’s important to note that domesticating a business in another state can be a complex and expensive process, and there are many factors to consider before making a decision. Domesticating involves the “transfer” of an existing corporation to a new jurisdiction. If you are planning to relocate your business outside of the State within which you are now incorporated, you may want to domesticate. Although you have the option of merely dissolving the existing corporation and re-incorporating in your new home state, Domestication may be the more attractive alternative. This is because Domestication allows you to retain the “age” of the corporation, which may be important if you want to keep your existing Federal Tax Identification Number, corporate bank accounts and lines of credit. In addition, retaining the “age” of the corporation may be useful if you are applying for new lines of credit and/or special government exemptions.

It is not necessary for you to have a complete knowledge of the governing laws, rules, policies and/or restrictions relating to each State’s requirements for Domestication. Spiegel & Utrera, P.A. will work with you to make sure your relocation plans move forward expeditiously and your business grows where it needs to grow. Let us know where you would like to go and we will make sure your move is handled properly.

General Counsel Club members can call our member-only line at (800) 734-9900 to discuss moving your business to another state with Larry Spiegel!



When launching a business in any industry, business owners must consider ways of protecting themselves from liability. This also applies to the real estate business. A limited liability company is a very popular option for those looking to invest in the real estate business. LLCs help to protect you and your personal assets when being faced with a lawsuit, or possible other legal matters. All types of income and losses go through the LLC and then are added to the income on the investors tax return as a write off. A huge advantage of owning property through the LLC is the protection it will provide to your assets like the rental property itself. The LLC helps to separate your personal assets from your business assets, this then provides an extra layer of protection from legal matters. LLCs also allow multiple members to join the business, which would allow them to pool together all their resources and share all of the profits.

When you’re looking for rental property to finance, there are many options at your disposal to facilitate the process. Some of these options are the standard loans from banks or credit unions, or maybe partnering with other investors, or even using a mortgage broker. All of these options have their own advantages and disadvantages, so doing research is important so you can choose the one that best fits for your own business structure. Remember, everyone’s situation is different and should be carefully revised to apply the right strategies. This way one could maximize on profits and minimize on losses.

We can assist you with setting up an LLC entity for the purpose of buying property.

Submit contact details for immediate assistance:
* Please give our attorneys up to 4 business hours to contact you. Thank you.

LLCs could also be very flexible and versatile because of the way they are taxed, and they also provide a lot of great tax benefits. LLCs actually offer more flexibility than corporations and partnerships and usually pay the least amount of state taxes than any other business entity. Which also means that there are some unseen benefits of owning real estate in the name of an LLC. Some benefits are that it appears to the renters to be possibly much more professional, this could help to increase any credibility with possibly valuable future tenants.

In conclusion, investing in rental property through an LLC has many advantages. It helps protect investors from being personally liable, they offer tax benefits, and they also provide a good business structure to partner with other investors. It is crucial to consider all of the pros and cons before committing to an LLC, and to do the prior research to ensure that an LLC is the right fit for the investor’s rental property and goals for its coming future.

General Counsel Club members can call our member-only line at (800) 734-9900 to discuss buying property with an LLC directly with Larry Spiegel.