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Taxable REIT Subsidiaries
Taxable REIT subsidiaries (TRSs) allow real estate investment trusts (REITs) to more effectively compete with other real estate owners. They do this by providing services to tenants or third parties such as landscaping, cleaning, or concierge, and they provide new earnings growth opportunities. General overview A Real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ... (REIT) can be an organization or an establishment able to supply other investors to finance their real estate business in a tax-efficient manner. In order to become a REIT, the organization needs to be registered as a corporation, trust, or association; it needs to be run by one or numerous trustees or directors. A taxable REIT subsidiary (TRS) is a directly or indirectly REIT-owned corporati ...
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Real Estate Investment Trust
A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hospitals, shopping centers, hotels and commercial forests. Some REITs engage in financing real estate. REITs act as a bridge from financial markets and institutional investors to housing and urban development. They are typically categorized into commercial REITs (C-REITs) and residential REITs (R-REITs), with the latter focusing on housing assets, such as apartments and single-family homes. Most countries' laws governing REITs entitle a real estate company to pay less in corporation tax and capital gains tax. REITs have been criticised as enabling speculation on housing, and reducing housing affordability, without increasing finance for building. REITs can be publicly traded on major exchanges, publicly registered but non-listed, or pr ...
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RSM US
RSM US LLP is an audit, tax, and consulting firm focused on the middle market in the United States and Canada and is a member of the global accounting network RSM International. RSM US has been ranked as the 7th most prestigious accounting firm in the US as voted on by accounting professionals. It employs more than 16,000 professionals across 81 cities nationwide and in Canada. RSM US also maintains offices in India and El Salvador and plan to primarily utilize employees in those countries for virtually all US engagements. RSM US is the United States member firm of RSM International, the 6th largest accounting network in the world with $8 billion in revenue, 51,000 professionals in 120+ countries. History The firm was founded in 1926 by Ira B. McGladrey (1883-1952) in Cedar Rapids, Iowa. McGladrey became a prominent figure in public accounting in Iowa, serving as President of the Iowa Society of Certified Public Accountants, chairman of the Iowa Board of Accountancy, as well as ...
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Limited Liability Company
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under the laws of every state; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). An ...
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