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Updated over 5 years ago,
LLC "Management Co." to write off expenses. Possible?
Hello again BP! I completed my first deal last fall and now have a Duplex. I am trying to find out how to be more tax efficient. Long story short, I had an idea and was wondering if this is feasible. Any advice if greatly appreciated!! My idea:
Create an LLC. Have this LLC be the "management" co that my tenant pays in order to live here. Can I funnel the property upkeep expenses through this LLC and shelter the rental income? Even further, could I refi my personal car to the LLC and have it be a Company vehicle?
Would be great to shelter some of the rental income especially as I look into this second property soon. Thanks all!
-Andrew