Considering an LLC, looking for experiences
Hi we just purchased a used 40'Fleetwood Revolution from NC where it is now in storage. We live in MI and plan on bringing it home in late April, then we will be hitting the road full time in June. T...
Forum Discussion
pitch wrote:
How about you being honest upright citizen and PAY YOUR FRIGGEN TAXES!!!!
While I personally don't agree with MT LLC's and the like, there is nothing legally wrong with them provided they are set up properly and follow the law. There are lots of totally legal advantages to lessen one's tax burdens that people leverage every day. Don't confuse moral or ethical opinions from legal facts.
To the OP, while it's perfectly fine to ask for advice here on a forum, it's always best to consult certified professionals that do this sort of thing for a living. I'd read an article a few years ago that there was a crackdown on MT LLC's and some of the leads had come from the state monitoring forums just like this one.
My biggest personal complaint is in the obvious questions, why is an individual consumer starting an LLC to own an RV with no real business? An LLC is a limited liability company. Is the RV used for actual company purposes? Is there a legitimate business? These questions are rhetorical of course. The reason is that it's a shell company set up for the sole purpose of limiting one's tax liability. It's a loophole, and while possibly legal if set up right, the ethical side of this is that you evade your tax burden.
