06-02-2005, 10:59 PM
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 Re: LL? or what for a home purchase with son "Salto Jorge" <exo[at]lonetree.com> wrote - quote - > My son does not have sufficient funds to purchase a home
Talk openly with a real estate attorney about this issue.> alone. I can help him out somewhat but do not want to just > give him the money. Also I want to be able to take some of > the income tax benefits. If anything happens between him > and his spouse, I want to be able to get my percentage of > the investment back. > I have heard about a LLP,LLC or a partnership of some kind > where we have ownership based on our percentage of the > investment. > What is the best way to go? Some type of joint ownership will work best, while still retaining the potential tax benefits (now and for the future) for everyone. -- Paul A. Thomas, CPA Athens, Georgia << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
05-31-2005, 06:10 AM
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| LL? or what for a home purchase with son LL? or what for a home purchase with son My son does not have sufficient funds to purchase a home alone. I can help him out somewhat but do not want to just give him the money. Also I want to be able to take some of the income tax benefits. If anything happens between him and his spouse, I want to be able to get my percentage of the investment back. I have heard about a LLP,LLC or a partnership of some kind where we have ownership based on our percentage of the investment. What is the best way to go? George << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| home, purchase, son |
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