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Updated about 6 years ago on . Most recent reply
Do I need an LLC to get all the tax benefits?
I own 3 STRs in South Lake Tahoe CA. My CPA told me I don’t really need an LLC to realize all the tax benefits of owning real estate, but if I was concerned about liability, I could do it for $1000/yr (CA cost) or just throttle up my umbrella policy for added protection. And that I wouldn’t see greater tax dedications by creating an LLC. So I’d didn’t even though I had all the paperwork ready. As I’m listening to various real estate podcasts, I’m beginning to question whether this is the case. BP friends, can someone smarter than me chime in with their thoughts? Appreciate it. Jared
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Ashish Acharya
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
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#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
That is true, LLC very rarely will have a tax benefit for a rental activity.
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