Categories
Law

Why State-by-State Felony Statistics Are Important to Convicted Felons

There are so many government organizations and companies within the private sector that rely on felony statistics by state, and that is nothing new. Parents also want to know about felons in an area before moving to a new location and felons, especially those connected with child endangerment, are important to educators and law enforcement alike. But why would state-by-state felony statistics be important to convicted felons? Here are a few reasons why.

Recently Released Felons

One of the major obstacles a recently released felon faces when trying to make it on the outside is the fact that people know about their history. Many may have seen stories in the local news or heard of them via social media. This is especially prevalent in smaller communities and as a result, it is sometimes extremely difficult to find employment. Too many employers are reluctant to hire convicted felons, and unfortunately, sometimes with very good reason. If you have recently been released from prison, you might want to check which states are the most ‘felon friendly’ states, but this might not help in the near future because many of these states only stipulate that it is illegal to search back prior to 7 years.

Felony Friendly States?

Yes, there really is such a thing as felon friendly states! As mentioned above, some states are considered felon friendly because they impose limitations on background checks. You should also note that while there are Equal Employment Opportunity laws on the books on a federal level, states also have the right to legislate their own laws. If you are looking for somewhere to move where the stigma won’t follow you when you move, check out the Help for Felons website that gives you all the background you need.

States More Accepting of Your History

Getting back to the information to be found on Intelius, the one thing you will notice is that some states have higher incidences of some crimes which might not be good if you have been convicted of crimes they are riddled with. For example, if there is a high number of felons convicted of forged checks in that state, you might want to reconsider if that was your crime. It is obviously a problem and something they will look for during the vetting process of new applicants. Some states simply don’t have a preponderance of felons convicted of your crime so there may be fewer problems when seeking a job, housing or even credit!

One of the amazing aspects of the Internet is the fact that you can find all the information you need at your fingertips within a moment’s time. Statistical analysis like that you can find via Intelius can be of vital importance when looking for places safe to raise children or to find work as a felon. Government agencies also rely on statistics when providing services and so statistics in real time are widely used today by an amazing number of people among all sectors. As a felon, this information could mean the difference between making a new start and being held down by the stigma of your past. Use it wisely and tomorrow can be that new day you’ve been looking forward to for so very long.

Categories
General

4 Reasons to Use an LLC for Rental Properties in Arizona

Limited Liability Companies are more popular than ever, especially with recent changes to the US tax laws.  One of the most common uses for an LLC is holding investment real estate properties.  There are many benefits to using an LLC for rental properties in Arizona.  It is common, but that doesn’t mean that it will always be the best solution for a real estate investor.  Here are the four main reasons to consider using an LLC for rental properties in Arizona.

1) Limit Your Personal Liability

The first reason to consider using a limited liability company for a rental property in Arizona is to limit your personal liability.  The LLC structure will limit any liability to the assets of that company.  This can be especially important when you are renting a property.  You will not likely be aware of all the people that your renters host at the property.  A simple injury or accident can lead to a lawsuit that can put your other assets and savings at risk.

Some real estate investors might point out that they can get liability insurance for their property.  This is a risky position to take for any investor.  Every insurance policy has limits and exceptions.  These can lead to personal involvement in the case.  Every knows that an insurance provider is likely to look for ways to avoid paying out a large settlement.  There is no reason a savvy real estate investor cannot use both an LLC and some liability insurance for rental properties.  The LLC structure will keep the investors personal assets out of reach from any claims or lawsuits related to the rental property.  The liability insurance can be used to fight any claims or issues.

2) Separate Rental Properties

Separating your rental properties from each other is the second reason to use an LLC for each property in Arizona.  For much the same reason that you want to shield your personal assets from liability, you do not want to risk your other investments if there is a claim or lawsuit involving one of your investment properties.  The only way to effectively achieve this goal is to separate the properties into their own LLC structure.  Simply having liability insurance on each property will not provide the same protection.

3) Benefit from Pass-Through Taxation

Investment real estate held in an LLC can enjoy the benefits of pass-through taxation since the IRS released Revenue Ruling 88-76 in 1988.  Put simply, this means that LLCs can enjoy the liability protections of a corporation, but they will be taxed like partnerships.  This allows for income and capital gains from the rental property to “pass-through” directly to the owners of the LLC.  The owner(s) would only pay taxes as an individual on the income from the property that was dispersed to them.  Single member LLCs are disregarded entities and might not even have to file tax returns.  The individual owner would simply report the income on his or her personal tax return.  A multi-member LLC will generally just file an informational tax return and would not have separate tax obligations for the LLC.  As we are not tax professionals or accountants, you should absolutely review all tax documents with a professional before submitting to the IRS.

4) Simplify Accounting for Each Rental Property

The fourth reason to use a separate LLC for each rental property in Arizona is to simply the accounting.  Each property will have unique expenses, deductions, repairs, rental income, insurance, and more.  This process will be much simpler for your tax professional and you if you hold them in separate LLCs.  An LLC is simple and inexpensive to setup and it delivers all these benefits for the real estate investor.  Adding the simplification of all accounting is the final reason that it should be an easy decision for most investors to setup individual LLCs for each property.  Of course, there is never a cookie-cutter answer when it comes to business operations, legal protections, or tax issues.  These decisions should be discussed with an experienced real estate attorney in Arizona and tax professional before making your final decision.