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Updated about 5 years ago,
LLC with single member VS Individual? Thoughts?
Dear Experts,
Thank you for reading my question. I would like to ask if there are any advantages of using a single member LLC Vs. putting ones personal name in a property. From my reading, the opinion is that you can still be sued personally even if you have a single member LLC. If this is true ( forgive my assumption), is there any advantage going through the extra paper work? How about the tax burden/incentives?
I am in the process of buying a property and not sure if I should put in an LLC.
Would appreciate your thoughts on this subject.
Thanks,
Modeste