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Updated almost 7 years ago on . Most recent reply
What would be the impact of incorporating on my rentals?
Hi, new to the forum here and I am looking into incorporating my rentals under a single entity and I am wondering how this would affect passive losses that have accrued over time? Anyone with personal experience or referrals to a professional would be greatly appreciated!
Thanks
Mike
Most Popular Reply
Originally posted by @Michael Nugent:
Hi, new to the forum here and I am looking into incorporating my rentals under a single entity and I am wondering how this would affect passive losses that have accrued over time? Anyone with personal experience or referrals to a professional would be greatly appreciated!
Thanks
Mike
You would make Uncle Sam very happy with your much higher taxes. Talk to a CPA to see what is best for your situation.