Does having an LLC allow you more tax write-offs?

[Troy F.]

I am considering opening an LLC. Currently I have 7 doors, 3 properties all in my name. I'd like to know if having an LLC allows you more tax write-offs than if I were to just keep the properties in my name.

Thanks,

Troy

[Darryl Ferguson]

I think it allows a pass through and can assist with lowering your earned income liability if your expenses outpace your income. I think one of the best benefits to an LLC is the insulation and protection of your personal assets should someone try to sue regarding one of your properties. I am just getting started so I am green in all areas, but am interested in the feedback on this subject and curious how to transition existing properties from personal to an LLC. Ultimately getting professional advise from a CPA and your lawyer is always a good idea. Best of luck to you and everyone out there in all your endeavors....If we aim at nothing, we will hit it every single time!