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Updated over 4 years ago on .

User Stats

3
Posts
0
Votes
Carlos Castro
  • Rental Property Investor
  • Washington, DC
0
Votes |
3
Posts

Paying Taxes with LLC

Carlos Castro
  • Rental Property Investor
  • Washington, DC
Posted

Seeking how other investors set up their business. I understand that their strategy will still require me to find a legal/tax professional.

I am Leveraging house hacking.

Created LLC to be able to open a business bank account for my tenants and get a interest bearing security deposit account.

I can't put the house in the LLC, because I used an FHA and the bank will not allow that.

Do I still need to file taxes annually as a LLC entity? Or will simply filing it on personal taxes suffice?

State: New Jersey.