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Forming an LLC to Hold Real Estate in California

  • May 6, 2025
  • devinlucas

Thinking about forming an LLC to hold real estate in California? Discover why LLCs are a powerful tool for privacy, asset protection, estate planning, and tax flexibility—especially for high-value properties in Newport Beach, Costa Mesa, Corona del Mar, and other Orange County coastal communities. This comprehensive guide from Lucas Real Estate Group covers everything from liability and tax benefits to Prop 19 strategies and long-term maintenance considerations.

alarm clock and post it note infographic with "reminder" Attention California LLC Owners: Two Key Tax Reminders You Don’t Want to Miss

Attention California LLC Owners: Two Key Tax Reminders You Don’t Want to Miss – 1) Annual $800 Minimum Fee, and 2) Form 568 – Due April 15th

  • April 4, 2025
  • devinlucas

If you own a California LLC — even one with no income or used solely to hold real estate — you’re still required to file Form 568 and pay the $800 minimum annual franchise tax. This blog breaks down the two most critical filing requirements for LLC owners, especially those using an LLC for privacy, rental properties, or estate planning purposes. Don’t risk penalties or suspension — find out what’s due, when, and how to stay compliant.

New FinCEN Reporting Requirements: What Real Estate Owners Need to Know About Their LLCs

  • November 18, 2024
  • devinlucas

New FinCEN Reporting Requirements: What Real Estate Owners Need to Know

A new federal law now requires LLCs, corporations, and similar entities—including those holding real estate—to report their beneficial ownership information to FinCEN. If your LLC was created before January 1, 2024, you must file by January 1, 2025, to avoid steep penalties.

This rule is critical for real estate owners, as LLCs are a common structure for property ownership in Newport Beach, Costa Mesa, and throughout California. Compliance requires detailed reporting, including personal information for all beneficial owners. Non-compliance could result in fines up to $5,000 per violation and even criminal penalties.

At Lucas Real Estate, we specialize in helping property owners navigate these complexities. Whether you’re filing for the first time or managing multiple LLCs, our legal and tax expertise ensures your investments stay protected and compliant.

Have questions? Contact us today for personalized guidance.

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It’s Official – California Has Statewide Rent Control

  • February 3, 2020
  • devinlucas

It’s Official – California Has Statewide Rent Control… Many exemptions exist that will apply to most small owners; corporate owners are the primary target of the current law. … This New Statewide Rent Control Has Two Key Components: 1) Caps Rental Increases; 2) Requires “Just Cause” For All Evictions.

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Feds Expand Reporting Requirements In All Cash Purchases to Some Areas of California

  • August 4, 2016
  • devinlucas

The U.S. Treasury in late July announced its intention to expand its Geographic Targeting Orders (GTO), temporarily requiring U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real estate in six major metropolitan areas, including five in California. Expanding the GTOs is a continued … Continue Reading