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This isn't entirely true, but it really depends on how you read OPs point. I know people who have LLC setup to buy rental property. At a very minimum they write
by sakopov 5y ago
This isn't entirely true, but it really depends on how you read OPs point. I know people who have LLC setup to buy rental property. At a very minimum they write off depreciation cost of the properties against their taxes. I wouldn't call it a tax haven LLC though.
- triceratops 5y agoYou can write off rental property depreciation even if you don't have an LLC. Per my extremely limited understanding, the LLC provides a liability shield for your personal assets against litigious tenants (though it won't save you if there was genuine negligence). It can also hide your identity from people trolling property rolls to find wealthy people to sue.