Difference in taxes when filing with a LLC and more...

[Pavlos Kasselouris]

I have some few questions on the subject so please help me understand certain things:

a) What are essentially the differences on your taxable rental income when you file as a sole proprietor and when you file taxes as a LLC. Dont you get the same tax benefits?

b) Do the properties have to be owned by the LLC, or can you use the entity as the rental management company?

c) What if the LLC is owned 50-50 with a partner, but I use my car more and take out for dinner other potential investors, vendors for business purposes? How can I deduct these expenses only for myself since I pay these from my own pocket and not from the rental income of the LLC?

d) Is there some other way to protect each interest without putting the properties under the LLC?