I had to pay $25k to learn this information. But we have a family trust that owns the holding company for complete anonymity. We also have a subsidiary LLC that hold all of our family vehicles, one for our family home, and separate ones for our fix and flips, rentals, and notes. This was our first year running K-1s and taking bonus depreciation for 0 tax. Throw in a whole life policy and a CTR doing affordable housing and we will never pay tax again. You know your stuff, keep at it.
I’d also like to see a video of you breaking down how to create a holding company. I’d also like to know how would the management work if it’s one person operating multiple subsidiaries by themselves?
Basically want to establish each llc. Build a great team move forward to the next. In the end have several LLcs profitable on their own merit but have a holding LLC primarily myself to determine, evaluate, oversee business progress from distance, adjust management or systems
I started a holding company about 2 months ago. I’m 20 years old. Currently forming the first subsidiary and working on partnering a second subsidiary. I jumped in head first to this and learned quite a bit but there is still more to learn. Would you’re channel be able to create a guide specifically on the quarterly and annual tax requirements and how it would work for holding companies and it’s subsidiaries that may be partnerships? This would answer many tax questions that other people without holding companies would love to hear.
Hey Connor, you are on it. Congrats on everything. Just curious, what do your businesses do? I believe we have a video already on quarterly taxes, try searching "quarterly taxes lyfe accounting"
@@LYFEAccounting The first subsidiary is a "rage room" as it is commonly referred to as. I want to expand into marketing, real estate, and partnerships where I help other small business get started. I ponder many questions as I do my research but this channel has helped me answer quite a few of those questions but it seems like for every 1 question I get answered, 2 more pop up and I can never catch up.
I’m currently a sole proprietor, but think of moving to llc. Also realizing i want to split the two arms of mybusiness. I dont have much knowledge of business. Thank you for keeping it clear and simple!!
Good card - I was also approved. Very simple process they don't check your credit nor do you have to PG. A day after applying the gentleman called and finished setting up my profile for $3K.
I want to thank you for specifying the LLC means. I have LLC but dont know what is it all about, I just thought of an opening a businees and that it. God Bless. more power.
Brother. What's the difference between the holding company vs a holding trust and which is a better choice when wanting to seperate yourself as a person from the everyday operations but just be a big decision maker like in a board situation?
Wondering what are the tax benefits of having a holding company. Especially when it comes to owning real estate. Would the real estate "depreciation" also be deductible to the overall revenue of the holding company? Forgive my ignorance but my brain is just flowing with ideas but idk if they are true. Great video! I already watched the follow up video for this too.
2:00 *PLEASE CLARIFY SOMETHING!!!!* The way it was explained to me is that the holding company just holds assets. *For Example* Joe's Plumbing PLLC forms Joe's Holdings LLC and then sells them every building, vehicle, every tool, every piece of office equipment and then LEASES these things back to Joe's Plumbing PLLC
7:31 This is not correct. *Lowe's Companies, Inc.* aka Lowe's (the hardware store company, publicly traded on the New York Stock Exchange under the ticker symbol LOW) is not the same company as *Loews Corporation* (publicly traded on the New York Stock Exchange under the ticker symbol L) that owns the chain of hotels (Loews Hotels) and that owns Diamond Offshore Drilling. Diamond Offshore Drilling does not operate or own any diamond mines, despite having the word "diamond" in their name; it's an oilfield services company.
I have an s-Corp for one business and 2 Llc’s for my property co so far. I’m in Indiana and we are allowed master / umbrella Llc’s so I will most likely take advantage of that this year or early 2021. I’m looking at 3 property deals right now so it depends on how that goes. I just formed the second llc to own whichever property I end up with. One would be one property with 7 doors (4 residential and 3 commercial) and the other would be 36 condos with 72 doors (27 units would have to be developed).
If you setup some of your LLC's as disregarded entities then you don't have to file a tax return. I have a management company that manages my holding company. Great video thanks.
Thanks for sharing!!!! Was very informative. If you could make or have a video about converting an existing LLC to the umbrella/holding company, I would love to see that!!!!
Great job and great content! You explained that well! Yes, please make more videos like this. Please create a video(s) on how to properly create a holding company and operating company. Can you also create a video on how to fund the holding company and the operating company? Can you also create a video on how to apply for bank funding for the holding company? Can you also create a video on tax strategies for them both? Thank you for creating this video!
Not only do you present fantastic tax information, but you also teach the proper structure for a company to see success! Please forward your pricing for the organization, tax services and properly setting up our companies?
What are your thoughts on placing a holding company into a trust? So in essence the pyramid would be Trust>Holding Company>LLCs/Corporations. Additionally can a nonprofit organization be included under a holding company?
I had thoughts about doing something very similar to this, just didn't know what it was called. Thank you for your expertise! Please keep the LLC vids coming😊❤
Great content. In the process of starting several LLCs, which are directed at residential/commercial properties. Exterior cleaning services, seal coating & drive way sealing, paving, etc. Have been thinking of another serperate LLC to do manage and consolidate the other LLCs. keeping any and all assets and liabilities seperate.
Great video! I would truly appreciate you making a video on how to create an LLV holding company. Also, should you create a holding company before, after, or at the same time as a subsidiary? Thanks!
Enjoyed your video and I would like to see you put together video on how to create a holding company and/or if one has an existing holding company ho to solidify it. Much appreciated.
The fact that you are watching this now means you are setting up for future success. I see all the time when people don't plan enough and find themselves missing out on alot of great strategies
Ya'll are A-mazing. I just binged watched about an hour of videos. Everyone needs this info. I am CPA in private practice. The way you present theze jewelzz of info is just enough but not too much. I'm learning things I'd forgotten. Thank you for these refreshers!! If ever an opportunity to collaborate presents itself, I would love to do so.
So if I’m starting the holding company what should I put down when they ask what the primary business is going to be. I cannot find that answer anywhere, well at least they want that in New York.
Hi, if an asset (let's say a vehicle or equipment) is purchased through the holding company, how can said asset be used for business by its subsidiary companies. Does it need to be rented out to the subsidiary? Can more than one of its subsidiary companies use that asset? How does that work?
If you have a LLC is there addition steps to take to consider it a holding company or. do u simply file a DBA for a new business you would like to register under your LLC
Awesome video! Question!! If I already have an LLC that provides a service, could I make a subsidiary under my current LLC even if we provide services?
Oh my gosh this video was right on time! But I definitely need more info... I am in the process of starting an Etsy shop as well as I am a reseller... I was really trying to find the best way I should go about growing these companies but at the same time wondering if I should set up some type of umbrella company or just keep the businesses completely separate?... I'm so confused to this major step that it is holding me up from moving forward... But here's a question maybe you can answer as well, could I legally start the 2 companies individually now and then later on down the road go and form the holding/umbrella company? Or does it have to be established first???... Thanks in advance!
Very good subject👍！ I have two questions: First question: I am going to efile a new LLC in Florida as sub LLC. Where can I put holding LLC info into the form of Sub LLC? So when other people try to dig in Florida Sub LLC, they will find that I just an registered Agent and the sub LLC is hold by other LLC. Second Question: If I have the existing LLC, how can I put the holding LLC into the article of the Organization of that existing LLC? thank you!
since the holding is not involved in day to day operation although the holding can apply for business credit or line of credit. is that make sense? I am confused. Thank you
I have an LLC but was looking to create a holding company for the protection of assets because I am a woodworker and have expensive machinery, etc. I am a sole member LLC, and would be the sole member of the holding company, you mentioned that the member/owner of the holding company does not participate in the operations of their subsidiaries... Is that because that is the law, as it is written, or is that a general definition for the sake of educating your viewer on holding companies and their structure?
@LYFEAccounting Would it be worthy of a video explaining what business formation would be best for a Holding/Parent/Umbrella company? Aside from an LCC…. LLP? LP? GP? LTD? INC? CORP? Any advantages in forming a TRUST for Indirect ownership of a Holding/Parent/Umbrella company?
I was just thinking about this & then you put this AMAZING INFORMATIVE VIDEO up & it answered most of my questions!!! Yes, I would like to know how to form one. I would also like to know if I can put my real estate properties in a series LLC under a holding company & how best to do this. Again, thank you for amazing, informational, professional content! GOD bless ALL of you!!!!
Is an advantage of holding company LLC the ability to group taxable income / losses together? And also having grouping collateral together for financing purposes?
I would like to form a Wyoming corporation for anonymity purpose. I also would like to build credit for both and use tax strategies with S Corp and pay myself a salary. Should I form an LLC in Wyoming and file a foreign S corp in California? Does it have to have exact business name? Should I buy property, car and other assets with Wyoming or California company for asset protection?
![How to Start a Holding LLC Company in 2024 [Step-by-Step]](http://i.ytimg.com/vi/Bd_11I4FY_U/mqdefault.jpg)
Here is the video on how to set up an LLC holding company, step-by-step: ua-cam.com/video/Bd_11I4FY_U/v-deo.html
I do not have a Holding LLC YET but, I will have one soon. Thank you for the 411. Much appreciated!
How can I get in contact with you guys ?
I had to pay $25k to learn this information. But we have a family trust that owns the holding company for complete anonymity.
We also have a subsidiary LLC that hold all of our family vehicles, one for our family home, and separate ones for our fix and flips, rentals, and notes.
This was our first year running K-1s and taking bonus depreciation for 0 tax. Throw in a whole life policy and a CTR doing affordable housing and we will never pay tax again.
You know your stuff, keep at it.
Thank you for the wealth of knowledge in your comment!
Worth the screenshot lol
@@kesodabul no cap
I screenshot your post brother
I screenshot your post brother
I’d also like to see a video of you breaking down how to create a holding company. I’d also like to know how would the management work if it’s one person operating multiple subsidiaries by themselves?
Basically want to establish each llc. Build a great team move forward to the next. In the end have several LLcs profitable on their own merit but have a holding LLC primarily myself to determine, evaluate, oversee business progress from distance, adjust management or systems
I work with clients who have Holding Companies. This content is CRUCIAL!!! Please keep educating, it is very much appreciated!😁🥰
Thanks....love the new generation of people who are helping others....and the people talking about it are mostly are...
Of course. Thanks for supporting the channel.
I started a holding company about 2 months ago. I’m 20 years old. Currently forming the first subsidiary and working on partnering a second subsidiary. I jumped in head first to this and learned quite a bit but there is still more to learn. Would you’re channel be able to create a guide specifically on the quarterly and annual tax requirements and how it would work for holding companies and it’s subsidiaries that may be partnerships? This would answer many tax questions that other people without holding companies would love to hear.
Hey Connor, you are on it. Congrats on everything. Just curious, what do your businesses do? I believe we have a video already on quarterly taxes, try searching "quarterly taxes lyfe accounting"
@@LYFEAccounting The first subsidiary is a "rage room" as it is commonly referred to as. I want to expand into marketing, real estate, and partnerships where I help other small business get started. I ponder many questions as I do my research but this channel has helped me answer quite a few of those questions but it seems like for every 1 question I get answered, 2 more pop up and I can never catch up.
@@connor15842 Haha,you're absolutely right. Me too. I always get questions in my head, never answers right away. Takes a lot of time & effort.
im kind if afraid to google rage room lol
I’m currently a sole proprietor, but think of moving to llc. Also realizing i want to split the two arms of mybusiness. I dont have much knowledge of business. Thank you for keeping it clear and simple!!
Good card - I was also approved. Very simple process they don't check your credit nor do you have to PG. A day after applying the gentleman called and finished setting up my profile for $3K.
I want to thank you for specifying the LLC means. I have LLC but dont know what is it all about, I just thought of an opening a businees and that it. God Bless. more power.
Brother. What's the difference between the holding company vs a holding trust and which is a better choice when wanting to seperate yourself as a person from the everyday operations but just be a big decision maker like in a board situation?
Wondering what are the tax benefits of having a holding company. Especially when it comes to owning real estate. Would the real estate "depreciation" also be deductible to the overall revenue of the holding company? Forgive my ignorance but my brain is just flowing with ideas but idk if they are true. Great video! I already watched the follow up video for this too.
Yes, we have a holding ompany in WI and acquiring diferrent companies in the Construction sector. So this video is a JEWEL!
2:00 *PLEASE CLARIFY SOMETHING!!!!* The way it was explained to me is that the holding company just holds assets.
*For Example*
Joe's Plumbing PLLC forms Joe's Holdings LLC and then sells them every building, vehicle, every tool, every piece of office equipment and then LEASES these things back to Joe's Plumbing PLLC
Yes I own an LLC & yes you should continue to make these videos
Please continue to make these videos. I have been held back far too long because of gatekeepers.
Very helpful video. I am reassessing and reestablishing my infrastructure as I have multiple LLCs being created. I needed this video!
Wow I'm not wasting my money on stacks after watching this video. Thanks bro
I'm only here bc I love his voice and the way he speaks.
Thanks for supporting Buffy.
7:31 This is not correct. *Lowe's Companies, Inc.* aka Lowe's (the hardware store company, publicly traded on the New York Stock Exchange under the ticker symbol LOW) is not the same company as *Loews Corporation* (publicly traded on the New York Stock Exchange under the ticker symbol L) that owns the chain of hotels (Loews Hotels) and that owns Diamond Offshore Drilling. Diamond Offshore Drilling does not operate or own any diamond mines, despite having the word "diamond" in their name; it's an oilfield services company.
I have an s-Corp for one business and 2 Llc’s for my property co so far. I’m in Indiana and we are allowed master / umbrella Llc’s so I will most likely take advantage of that this year or early 2021. I’m looking at 3 property deals right now so it depends on how that goes. I just formed the second llc to own whichever property I end up with. One would be one property with 7 doors (4 residential and 3 commercial) and the other would be 36 condos with 72 doors (27 units would have to be developed).
If you setup some of your LLC's as disregarded entities then you don't have to file a tax return. I have a management company that manages my holding company.
Great video thanks.
This has been by far the best explanation of a holding company video. Thank you
Thank you so much Denise, this made my day. I hope you are subscribed for more :-)
I've subscribed...
Thanks for sharing!!!! Was very informative. If you could make or have a video about converting an existing LLC to the umbrella/holding company, I would love to see that!!!!
Yes, we have a LLC & a Holding Company
ive had my corporation at least two years. i just made that into a holding company and formed an LLC
Great job and great content! You explained that well! Yes, please make more videos like this. Please create a video(s) on how to properly create a holding company and operating company. Can you also create a video on how to fund the holding company and the operating company? Can you also create a video on how to apply for bank funding for the holding company? Can you also create a video on tax strategies for them both? Thank you for creating this video!
Thanks for sharing your thoughts and ideas, will definitely note these and consider making more.
Videos that answer these questions would be very informative and helpful.
Yes I have multiple LLC's & been thinking about creating a building company however, not sure where to start
We got you, we're going to go deeper on this topic since people are enjoying it
We need that how to make an LLC Holding company video. ASAP. I need to get the ball rolling. I really appreciate you guys.
So glad to hear you are looking forward to it. Its in queue, hope to release it next week!
Not only do you present fantastic tax information, but you also teach the proper structure for a company to see success! Please forward your pricing for the organization, tax services and properly setting up our companies?
great information...i just started the SHABAZZ L.A.B.S. LLL as a holding company in Florida and I learned a lot today...
Boutta binge your channel for the night, appreciate the info brotha
I own a LLC and this channel is great.
Thanks Lee!
Business trust are great and better protection with out all the fees of llc and corporations.
What are your thoughts on placing a holding company into a trust? So in essence the pyramid would be Trust>Holding Company>LLCs/Corporations. Additionally can a nonprofit organization be included under a holding company?
I have the exact same question. I have multiple business entities, and a 4th I'm debating whether to make a non-profit
@@milkdiamond1490 would like to pick your brain
TATA TRUST> TATA SONS>Subsidiaries
Your video's are golden....perfect and not overly complicated.
this is a great channel
This is a great comment 💯
I’m excited!!!! 🎉🎉🎉❤❤❤🔥🔥🔥🔥🔥🔥🔥🔥 forming a holding company right now! Thank you 🙏 for this information
Got my Holding Company set up and preparing to start my WEB !!!
Yes I have a llc holding company.
Yes please make a video breaking down how to create a holding company ..appreciate your awesome information 👏
I had thoughts about doing something very similar to this, just didn't know what it was called. Thank you for your expertise! Please keep the LLC vids coming😊❤
Stay tuned!
A video on creating an LLC holding company would be awesome 👏
Coming soon!
Great content. In the process of starting several LLCs, which are directed at residential/commercial properties. Exterior cleaning services, seal coating & drive way sealing, paving, etc. Have been thinking of another serperate LLC to do manage and consolidate the other LLCs. keeping any and all assets and liabilities seperate.
can we have an update
Great video! I would truly appreciate you making a video on how to create an LLV holding company. Also, should you create a holding company before, after, or at the same time as a subsidiary? Thanks!
Enjoyed your video and I would like to see you put together video on how to create a holding company and/or if one has an existing holding company ho to solidify it.
Much appreciated.
I have an LLC and I'm in the process of creating another to be our trust. I hope I'm doing it right! I guess I'll find out!
My LLC is essentially a holding company, though I don't have "holdings" in my name. This information is wonderful - thank you!
KEEP CREATING PLEASE!!
I wish I needed this information today. LOVE this channel.
The fact that you are watching this now means you are setting up for future success. I see all the time when people don't plan enough and find themselves missing out on alot of great strategies
Yes, please create a video on how to form a holding company LLC
The video is scheduled for Wednesday. Don't miss it :)
Yes, I do
Ya'll are A-mazing. I just binged watched about an hour of videos. Everyone needs this info. I am CPA in private practice. The way you present theze jewelzz of info is just enough but not too much. I'm learning things I'd forgotten. Thank you for these refreshers!! If ever an opportunity to collaborate presents itself, I would love to do so.
Hey, thanks so much for the kind words. We actually may have an opportunity coming up. Can you visit our site and send us an email?
@@LYFEAccounting sure can!
Thanks for explaining this! Would definitely like more info on how to create an LLC holding company
Noted! Thanks for sharing :)
Yes please keep making videos. I am learning a lot from you.
So if I’m starting the holding company what should I put down when they ask what the primary business is going to be. I cannot find that answer anywhere, well at least they want that in New York.
Yes I have an LLC from Utah
I just created a holding company for real estate investment good information
Yes make more on holding and LLCs. Great job. I subscribed.
Should be up next week! Thanks for supporting the channel.
Hi. Yes, I have a LLC. Great info. THANKS!
Hi, if an asset (let's say a vehicle or equipment) is purchased through the holding company, how can said asset be used for business by its subsidiary companies. Does it need to be rented out to the subsidiary? Can more than one of its subsidiary companies use that asset? How does that work?
If you have a LLC is there addition steps to take to consider it a holding company or. do u simply file a DBA for a new business you would like to register under your LLC
thank you.. i had alot of questions prior to watching this video. definitely decided against a holding company for now.
I would like to know why are they not able to to technically sue the Holding company due to issues they may have with the subsidiary company!
By far the best video I've seen thus far! Can you make a video of what types of accounts that should be opened for holding companies?
Awesome video! Question!! If I already have an LLC that provides a service, could I make a subsidiary under my current LLC even if we provide services?
This is what I am wondering.
Greetings, I founded an LLC and another entity. 2022 is build the C-Corp company and the LLC is the asset holder..
Oh my gosh this video was right on time! But I definitely need more info... I am in the process of starting an Etsy shop as well as I am a reseller... I was really trying to find the best way I should go about growing these companies but at the same time wondering if I should set up some type of umbrella company or just keep the businesses completely separate?... I'm so confused to this major step that it is holding me up from moving forward...
But here's a question maybe you can answer as well, could I legally start the 2 companies individually now and then later on down the road go and form the holding/umbrella company? Or does it have to be established first???... Thanks in advance!
Great question! I have the same
Excellent video! We are restructuring and using the holding company with child LLC’s for real estate. Thanks for teaching me how to use it.
Damn this was right in time! Great information as always!
I have a holding company but my question is What’s the proper sic/naics codes for a holding company
NAICS code for a holding company is "551112 - Offices of Other Holding Companies"
@@LYFEAccounting if I put the wrong one is there a way to change it ?
I dont currently have an LLC but I'm going to in the near future I'm just working on some designs for my product
I have a series LLC with other LLCs apart of it. I believe this is similar to what you’re talking about.
Downloaded this one!!! Beautiful blueprint!!!
Yes please continue with these type of advanced videos
Will do, Sophia.
fantastic video, covers so many early questions...thank you!
Yes I have an LLC
Very informative video, please continue to make these types of videos.
More to come!
Very good subject👍！ I have two questions:
First question: I am going to efile a new LLC in Florida as sub LLC. Where can I put holding LLC info into the form of Sub LLC? So when other people try to dig in Florida Sub LLC, they will find that I just an registered Agent and the sub LLC is hold by other LLC.
Second Question: If I have the existing LLC, how can I put the holding LLC into the article of the Organization of that existing LLC?
thank you!
Yep! I have an LLC
since the holding is not involved in day to day operation although the holding can apply for business credit or line of credit. is that make sense? I am confused. Thank you
I have an LLC but was looking to create a holding company for the protection of assets because I am a woodworker and have expensive machinery, etc. I am a sole member LLC, and would be the sole member of the holding company, you mentioned that the member/owner of the holding company does not participate in the operations of their subsidiaries... Is that because that is the law, as it is written, or is that a general definition for the sake of educating your viewer on holding companies and their structure?
@LYFEAccounting
Would it be worthy of a video explaining what business formation would be best for a Holding/Parent/Umbrella company? Aside from an LCC….
LLP? LP? GP? LTD? INC? CORP?
Any advantages in forming a TRUST for Indirect ownership of a Holding/Parent/Umbrella company?
I would like to see a video on how to create a holding LLC. Great video.
Hey Sierra, that video is actually out on the channel now :) Look for "How to Setup a Holding LLC Company in 2021 [Step-by-Step]"
I have a LLC and appreciate the info in how to set up a holding company
Thank you for this valuable information! Yes please, more videos for LLC’s.
yes I have holding LLC
I was just thinking about this & then you put this AMAZING INFORMATIVE VIDEO up & it answered most of my questions!!!
Yes, I would like to know how to form one. I would also like to know if I can put my real estate properties in a series LLC under a holding company & how best to do this.
Again, thank you for amazing, informational, professional content!
GOD bless ALL of you!!!!
Is it best to create a subsidiary company before the holding company?
Learned a lot from this video. Can I day trade under a holding company or should I just create a separate LLC for day trading?
Can you explain how to use a holding company for owners of cryptocurrency since they're considered digital assets?
Is an advantage of holding company LLC the ability to group taxable income / losses together? And also having grouping collateral together for financing purposes?
Keep up the good work man
I’m about to go over the whole video with my note book and translate it to a way I’ll remember.
I would like to form a Wyoming corporation for anonymity purpose. I also would like to build credit for both and use tax strategies with S Corp and pay myself a salary. Should I form an LLC in Wyoming and file a foreign S corp in California? Does it have to have exact business name? Should I buy property, car and other assets with Wyoming or California company for asset protection?
Your videos are the best on UA-cam on the topic thank you so much.
I really appreciate that! Just curious, how many of our videos do you think you’ve watched?
Please keep these vids coming I’m super interested!!!!
Great content !! Bring more !! Please !!!
More on the way! Thanks for supporting.
This is an amazing video and channel
Can you have multiple umbrella companies under one umbrella company?