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In a message dated 3/31/99 6:27:21 PM Eastern Standard Time,
greene@xxxxxxxxxxxxxxx writes:
<<
> With regard to the issue of an LLC, or whether or not to
incorporate, that is
> a topic that is beyond the scope of this forum to discuss. Each person's
> circumstance will have to determine whether or not an entity other than as
> sole proprietor is appropriate for them. I do have a great deal of
experience
> with this topic, and have recently favored using the Family Limited
> Partnership with an LLC as General Partner for trading vehicles in many
cases.
> When used in conjunction with a separate Nevada entity this combination
> oftentimes affords the Trader a unique combination of tax relief, asset
> protection, privacy, and flexibility.
As a point of information - if you do work in Florida (someone said you did -
don't know
if that information is correct) - and you are an accountant (not a Florida
lawyer - and
not working with a Florida lawyer) - then advice like this constitutes the
unauthorized
practice of law in Florida. Only a lawyer licensed to practice law in
Florida can give
advice like this to clients in Florida. Since things like LLCs are creatures
of state
law - the Florida Bar may have a good point saying that accountants from
other states
shouldn't be rendering this type of legal advice to Florida residents. But -
"I ain't
got no dog in this fight." Like I said - it's just a point of information
for you and
potential clients. Robyn
>>
My statements were not meant to render legal advice, in fact, I have not
advised anyone to do anything, just stating what I have recently favored for
my clients. From a tax perspective these structures are unbeatable and I
would certainly advise anyone who is considering any legal entity - LLC/
FLP/corporate structure - to consult with an experienced attorney, be it from
Florida or anywhere else they reside for proper establishment and compliance
of the entities. I work with many fine attorneys from Florida and several
other states around the country. Like I said, with regard to the issue of an
LLC, FLP, or whether or not to incorporate, that is a topic that is beyond
the scope of this forum to discuss. Each person's circumstance will have to
dictate their best course of action.
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