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cassheff
Level 2

Rental property

Is it beneficial from a tax perspective to open a LLC prior to renting my 2nd home? 

 

posted
‎January 26, 2022 9:44 AM
last updated ‎January 26, 2022 9:46 AM
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ColeenD3
Expert Alumni
Expert Alumni

Rental property

No, an LLC for rental property changes nothing, taxwise. A single-member LLC is considered to be a disregarded entity to the IRS, meaning you and the LLC are still one and the same.

‎January 26, 2022 9:51 AM
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