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Updated almost 10 years ago,

User Stats

10
Posts
0
Votes
Tom Bud
  • Property Manager
  • Brooklyn, NY
0
Votes |
10
Posts

LLC vs Personal Name

Tom Bud
  • Property Manager
  • Brooklyn, NY
Posted

Hey all,

I wanted to get everybodys opinion on my situation. I want to take the hardest step in the real estate investor world; BUY MY FIRST PROPERTY.

I wanted to ask is there any benefits of completing a flip under an LLC vs my personal name in terms of tax? I don't want to spend 50% of my profit in capital gains tax, although I don't think there are any ways around it without a 1031 exchange. I want to take my profit and pay for my whole college tuition.

Thanks,

Tom B.

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