- Joined
- Jan 26, 2009
- Messages
- 53
Hi REIN Community,
I have just set up my two tiered corporate structure...Parentco and Realco. I would like to setup the bank accounts now, but I need some help.
Assuming each of the properties are with different JV partners, it makes sense to have a separate bank account for each. However, for general real estate expenses like auto, REIN fees, education expenses, etc. should I be setting up a bank account for both ParentCo and RealCo or just RealCo? (i.e. Should the general account be owned by ParentCo or RealCo?)
I`ve sent the question off to my accountant George Dube, but I`ll be seeing my banker this evening and was hoping someone else on this forum might know...
Thanks,
Caesar
I have just set up my two tiered corporate structure...Parentco and Realco. I would like to setup the bank accounts now, but I need some help.
Assuming each of the properties are with different JV partners, it makes sense to have a separate bank account for each. However, for general real estate expenses like auto, REIN fees, education expenses, etc. should I be setting up a bank account for both ParentCo and RealCo or just RealCo? (i.e. Should the general account be owned by ParentCo or RealCo?)
I`ve sent the question off to my accountant George Dube, but I`ll be seeing my banker this evening and was hoping someone else on this forum might know...
Thanks,
Caesar