 Law Suits (by Dennis. [MD]) Jun 20, 2025 12:37 PM
 Law Suits (by Jason [VA]) Jun 20, 2025 12:48 PM
Law Suits (by zero [IN]) Jun 20, 2025 3:57 PM
Law Suits (by WMH [NC]) Jun 20, 2025 5:27 PM
Law Suits (by dennis [MD]) Jun 21, 2025 1:08 PM
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Law Suits (by Dennis. [MD]) Posted on: Jun 20, 2025 12:37 PM
Message:
State Specific Question About: MARYLAND (MD)
Do I need to have my tenants send rents to my LLC checking or is it ok to send to me directly. I have been having it Zelled to me bc my bank charges fees to have tenants Zelle to my business account. My concern is a law suit that could "penetrate the vail" bc I am not separating funds.
Has anyone seen a landlord have the LLC breached for any reason other than gross negligence? --204.27.xxx.xxx |
Law Suits (by Jason [VA]) Posted on: Jun 20, 2025 12:48 PM
Message:
If you're a sole proprietor, an LLC offers no benefit whatsoever so you can safely comingle funds. --134.238.xxx.x |
Law Suits (by zero [IN]) Posted on: Jun 20, 2025 3:57 PM
Message:
We use our LLC as a layer of anonymity. I do not have to list my name, just the person that is the main contact who happens to be a lawyer at this time.
I get money deposited into the LLC bank account and I have also had money dropped into mine. I do not like the latter, but it's all pass thru with my LLC so no worries about tax stuff.
Sometimes contractors bill my name instead of my biz. That doesn't bother me either.
You are in a different state so my info might all be moot. --107.147.xx.xx |
Law Suits (by WMH [NC]) Posted on: Jun 20, 2025 5:27 PM
Message:
We live in a small area - people know who owns what. We use LLCs for estate purposes (easier to leave an LLC that owns houses than leave the houses separately) but we don't expect anonymity from them. It's easy to look up who is a principal member of an LLC online, and dealing with the same contractors repeatedly wipes out all privacy too. Tenants too: they see us at this house and then their friend sees us at that house. So it doesn't matter to us which account receives the money as long as it's all properly reported to the IRS. --173.28.xx.xxx |
Law Suits (by dennis [MD]) Posted on: Jun 21, 2025 1:08 PM
Message:
When I look into piercing the corporate vail, it says that you can't comingle personal finances or the LLC is easy to penetrate and they come after your estate. Thoughts? --76.36.xxx.x |
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