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Updated almost 11 years ago,
Asset Protection with an LLC
Hello all,
I am interested in the topic of asset protection via an LLC. I am also interested in all of the tax benefits/advantages associated with claiming business expenses, so…. forming an LLC for a rental property seems like the perfect solution. The actual process of setting up an LLC is pretty straight forward and I have already completed this step, what I am having trouble understanding is the proper entity structure for multiple properties and/or LLCs.
If you had two or more rental properties what type of entity structure would you use if they were in different states? Two/three/four LLCs, one LLC for all, Series LLC, etc?
Also, does anyone know of any free or relatively inexpensive resources that can inform me on similar/related issues? I spoke with a CPA on the phone but his hourly rate was $200. I don't think my basic questions warrant a specialized CPA at $200/hr, not yet at least.
Thanks for listening,
-John