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Updated about 7 years ago,
Help! Forming LLC taxed as S-Corp
In need of some expertise here. Thanks in advance.
I have 6 rental units in NYC that I airbnb.
Im also looking to buy a house for airbnb, likely in Tennessee or Georgia with an investing partner.
Question:
1) Should I form 2 separate LLC's?
2) I think I want to be an LLC taxed as an S-Corp to benefit from lower self-employment tax. Do I need to file this before 12/31/2017 to get it in effect for next tax year? Is this even possible this late in the year?
3) I am also looking to get Florida residency for tax purposes. Does this have any effect on where my LLC should be incorporated?
thanks in advance.
Noah