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Updated almost 7 years ago,
Combing llc to save taxes.
I have a business that is run as llc. I have a rental that has negative income. If I put my rental into my business llc can I lower my taxes by offsetting my business income with my rental loss.
Also I heard that with new tax law an llc has to pay taxes on only 80 percent of your llc income. So everyone who has rentals which have positive net income should be putting it into llc. Is that correct ?
Thx so much.