<html><body><span style="font-family:Times New Roman; color:#0000ff; font-size:14pt;"><div><span class="mceItemHidden">I did not know that a Trust without any taxable income would be required to file a tax return? </span></div><div><br></div><div><img id="sigimg1" title="signature image" src="cid:sigimg1@c82a5ce04432916218255f65ae1d0dcb" border="0" alt=""></div><div><br><br></div><span class="mceItemHidden">
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Subject: [<span class="mceItemHiddenSpellWord">WSBAPT</span>] Family Cabin <span class="mceItemHiddenSpellWord">LLC</span></span><br><span class="mceItemHidden">
From: "Mike Winslow" <<a href="mailto:mike@winslegal.com">mike@winslegal.com</a>></span><br><span class="mceItemHidden">
Date: Tue, September 05, 2017 11:39 am</span><br><span class="mceItemHidden">
To: "WSBA <span class="mceItemHiddenSpellWord">RPPT</span> Probate & Trust Discussion Forum"</span><br><span class="mceItemHidden">
<<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>></span><br><span class="mceItemHidden">
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</style><![endif]--><div class="WordSection1"><div class="MsoNormal" style="font-size:12pt;"><span class="mceItemHidden">Recently discussing with a CPA, whom I greatly respect, the ramifications of using <span class="mceItemHiddenSpellWord">LLC</span> to own family cabin, in order to create succession plan and to address ongoing collection of money to cover operation expenses.</span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span class="mceItemHidden">The CPA states that if an entity is formed under state law, the <span class="mceItemHiddenSpellWord">IRC</span> requires filing of a tax return, even if there is no profit motive for the organization and no net income. The cost of preparing a partnership tax return runs a $1000 or better in my county, so this is no small expense.</span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p><span class="mceItemHidden"> </span></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span class="mceItemHidden">Any info to contrary, or way around this requirement?</span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span class="mceItemHidden">I have already considered a trust, but I think that too would require filing a return, and it is not as useful of an ownership vehicle.</span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p><span class="mceItemHidden"> </span></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p><span class="mceItemHidden"> </span></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><span class="mceItemHidden">Michael A. Winslow</span><o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><span class="mceItemHidden">1204 Cleveland Ave.</span><o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><span class="mceItemHidden">Mount Vernon, WA 98273</span><o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><span class="mceItemHidden"><span class="mceItemHiddenSpellWord">Ph</span>. 360-336-3321</span><o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><span class="mceItemHidden">Em. <a href="mailto:Mike@winslegal.com">Mike@winslegal.com</a></span><o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><o:p><span class="mceItemHidden"> </span></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="mso-fareast-font-family:"Times New Roman";mso-no-proof:yes"><span class="mceItemHidden">This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.</span><o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><o:p><span class="mceItemHidden"> </span></o:p></div></div><hr><span class="mceItemHidden">_______________________________________________</span><br><span class="mceItemHidden">
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