Buy principal residence under LLC name

[Senami Craft]

We bought our principal residence last summer in my name and that of my husband, and we need to redo the roof (likely $30k). Should we transfer ownership of our residence to a LLC and discount this roof as an expense?

[Wayne Brooks]

@Senami Craft Being an llc does affect your tax deductions.  Changing your ownership status to an investor, as opposed to a primary residence, will hurt much more than help. Roofs can’t be expensed right away anyway, they get depreciated.