EFTA01919962.pdf

To: Jeffrey EMeevacation@gmail corn] From: Richard Joslin Sent Tue 6/24/2014 11:25:13 PM Subject Fwd: Question I sent this to EA. Fyi Begin forwarded message: From: Eileen Alexanderson ‹ > Date: June 24, 2014 at 7:19:32 PM EDT To: Richard Joslin ‹ > Subject: RE: Question Thanks and have a good night. From: Richard Joslin Sent: Tuesday, June 24, 2014 7:19 PM To: Eileen Alexanderson Subject: Re: Question Disregarded entities should use tax ID of the owner. Trusts can obtain their own EIN number notwithstanding grantor status. We have heard from JEE that using LLC does not limit liability. A trust could be used or a corporation. We can elect to treat LLC as a corporation and obtain a tax ID number. No harm if lease is held this way. Same result for cars. On Jun 24 2014 at 6:58 PM "Eileen Alexanderson" wrote: Please advise re Jeffrey's comment below re use of separate tax id for the townhouse ILC.Thanks. From: Jeffrey E. [maiIto:ieevacation@gma il.corn] Sent: Tuesday, June 24, 2014 8:02 AM To: Eileen Alexanderson Subject: Re: Question as long as the 7520 rules allow personal residence classifcation. On Tue Jun 24 2014 at 7:59 AM, Eileen Alexanderson wrote: EFTA_R1_00362716 EFTA01919962  Thanks. An question re use of separate tax id for the townhouse LLC-yes? From: jeffrey E. [mailto:[email protected]] Sent: Tuesday, June 24, 2014 7:52 AM To: Eileen Alexanderson Subject: Re: Question new llc , sepereate one for cars On Tue Jun 24 2014 at 7:25 AM, Eileen Alexanderson wrote: Historically, the house couple that works for Leon and Debra at have lived in the coop apt on 72nd St that Leon's Mom owned. That apartment is coming to Leon as part of her estate but the couple can no longer live there due to coop rules and apt will soon be listed for sale. Debra, working with a RE friend, has found another apt which is a condo to rent for the couple. Apt will be paid for by Leon and Debra. Question for you as I proceed to get a lease signed: I do not want lease in the couple's name b/c they will not make income check needed w/o guaranty and if they don't work out we will need the apt for their replacement. should we form a new LLC for this purpose? So far sounds like apt owner is ok with an LLC as party on lease and will take 2 or 3 months security rather than require a guaranty. Separately we spoke about an LLC for the cars. Could potentially use the LLC for both? Our existing LLCs that own property arc pretty much all Trust owned. Leon's art are related. We formed a new LLC for the townhouse purchase(owned by the APO Trust). We could consider using that LLC since the couple are caretakers for that property but Leon and Debra are supposed to fund normal operating expenses while they live in the house so I would think we would put the lease in the name of that LLC and the fund monthly rent from house account. Need to decide this morn so we do not lose this apt. Please advise. Thanks. Sent from my iPhone please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited EFTA_R1_00362717 EFTA01919963 and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by c-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of YEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to ics% [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00362718 EFTA01919964