As an income property owner, you're likely always looking for ways to maximize your returns and minimize your risks. One of the most effective strategies for protecting your personal assets from potential liabilities associated with your rental property is to form a Limited Liability Company (LLC). While this article provides a generalized overview, remember that legal and financial advice should always be sought from qualified professionals in your specific jurisdiction. What is an LLC and Why is it Beneficial for Income Property? An LLC is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. For income property owners, this "limited liability" aspect is the golden ticket. Here's why an LLC is a powerful shield for your income property: Asset Protection: This is the primary benefit. If a tenant slips and falls on your property, or if there's a dispute over a lease agree...
On June 9, 2025, a new Executive Order, "RESTRICTING THE ENTRY OF FOREIGN NATIONALS TO PROTECT THE UNITED STATES FROM FOREIGN TERRORISTS AND OTHER NATIONAL SECURITY AND PUBLIC SAFETY THREATS," took effect, reigniting fierce debate over U.S. immigration policy. The order, framed by the administration as a critical measure to safeguard national security and public safety, claims to be based on rigorous assessments of countries' vetting capabilities, information-sharing policies, and visa overstay rates. However, it has immediately ignited significant controversy, drawing comparisons to past "travel bans" and facing widespread criticism regarding its perceived discriminatory nature, severe humanitarian implications, and the debatable statistical basis for its sweeping restrictions. This article delves into who is affected by this order, how they are impacted, and explores the core arguments underpinning the controversy. Who is Affected and How They Are Affected The...