I realy like the idea of your trifecta and putting property into a trust or llc, but how does that work with WA states business tax laws?
Specifically the business property/assest tax. How I read the law, is seems like as personal property, I just pat sales tax, and normal property tax on assets owned. But if I put the ownership of a house or expensive business equipment like say a 3d printer farm, then I owe business income taxes, plus an anual tax on the current value of that equipment or other property..
What are your tax strategies to minimize or avoid that anual tax on the value of all business owned property?
Thanks,
https://dor.wa.gov/taxes-rates/property-tax/how-my-business-property-valued