Goals, Business Plans & Entities
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Should I put my businesses primary building in separate LLC?
I am purchasing a building to operate my primary business from. I have no other properties and this is not an "investment" property. Like mentioned, I will be occupying it for my business. It will be purchased and deeded under my current LLC. (We do file as an S-Corp)
Someone mentioned that I should put the building in a different LLC. I'm just trying to figure out why? From a liability stand point, maybe?? but again, I'm not renting the space out. Although, this person said to set up the property in another LLC and rent it to myself for tax reasons?
Just doesn't seem to make sense to me. Pros/Cons? Is there a real benefit?