gk
Level 7
12-20-2022
04:16 PM
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Hi,
One of my client in process of changing the rental properties' titles to LLC by Quick Clain deed. As the above process is taking time will it be ok if he change his bank details for rental property management company from personal accounts to his LLC account?
GK
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TaxGuyBill
Level 15
12-20-2022
04:25 PM
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That would be something to ask the bank and/or management company.
For tax purposes, changing title via a Quit Claim from an individual to a Single Member LLC means nothing.
IRonMaN
Level 15
12-20-2022
04:49 PM
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Yeah, the bank may or may not like that so your client should really get the bank's blessing before proceeding.
Slava Ukraini!
gk
Level 7
12-20-2022
04:52 PM
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Thank u so much
