Is the New Tax Code Good News for Single-Member LLCs?

[Mark J.]

Given the new tax code, are there any tax advantages to titling a flip property under a single-member LLC vs under my personal name?

Many thanks in advance!

Mark...

[Account Closed]

Originally posted by @Mark J.:

Given the new tax code, are there any tax advantages to titling a flip property under a single-member LLC vs under my personal name?

Many thanks in advance!

Mark...

The new Tax Code is a DREAM for small business owners, especially real estate investors! An LLC is for asset protection and has no impact on your taxes (unless you do something really stupid like declare it as a Corp. for tax purposes which you won't do now since you know.) Keep it simple. Buy the property in your LLC for asset protection and do your flip (buy & hold is better) but you get the idea.