How to fully protect your real estate assets from lawsuits

while maximizing tax deductions

1. Setup a Limited Liability Company for each of your real estate properties

2. Prepare a Quit Claim Deed to transfer the ownership of the real estate asset from your name to the newly created respective LLC

3. Open a bank account for each of the LLCs

4. Maintain separate books and records for each of the LLCs to keep track of income and expenses by each individual real estate property

5. File separate tax returns for each LLC, assuming there are two or more members (owners) for each LLC

6. Renew your LLCs with the state of registration on an annual basis