4 ms·
What are the benefits of buying with an LLC?
by rhino369 6y ago
What are the benefits of buying with an LLC?
- g00gler 6y agoTaxes for one. Everything you do for the home is a write-off assuming you have other income rather than an out and out loss. Water heater? WRITE OFF! New roof? WRITE OFF!
- busterarm 6y agoPlus you're not limited by your personal deductions which are now capped at the state and local level.
- busterarm 6y agoPrivacy, potentially. House sales are public records and anyone willing to pay $30 can track you down. If you have a Wyoming LLC holding company (which are effectively anonymous when paying for a registered agent service) that owns & manages your in-state LLCs, then good luck finding you. This is generally how celebrities hide from stalkers, etc. This is also beneficial when you're managing your own properties that you rent out. Tenants that know you're the owner will try to walk all over you. When you just tell them that you're the property manager, you're just enforcing the owner's wishes. You're "just the middleman". It's not their business to know that you're both. This also helps protect your separation of your business entity from yourself if for some reason they have to sue your LLC. If you don't represent yourself as the owner (because your LLC is), you have fewer problems to deal with. Also, taxes like the other poster mentioned. Plus if your life circumstances change and you want to turn your home into a rental, you're going to want to do this anyway and not having to sell your home to your LLC will save you a chunk of cash.
- milkytron 6y ago> Privacy, potentially. House sales are public records and anyone willing to pay $30 can track you down. It can also be done for free using various methods, rather quickly too.