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Updated about 6 years ago on .
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Benefits of Not Forming an LLC
Hello BPers,
This past 2018 I purchased two rental properties under my name. The earnings are under an LLC after filing a quitclaim deed.
I'm curious if there are any tax benefits of not renting your properties under an LLC and renting them out as self-employed.
What has your experience been as you've grown your portfolio?
Thanks
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Eamonn McElroy
#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
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- Atlanta, GA
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
There is zero difference for federal purposes between holding your properties in a single-member LLC taxed as a disregarded entity vs holding them directly.
Possible state and local tax differences.