Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on . Most recent reply
LLC Income tax free to another LLC?
Does anyone have income from one LLC flow directly to another LLC that they own?
I own 25% of an LLC for flipping houses and similar. I own 50% of another LLC for building homes here and there. I am thinking to open a third LLC which I would own 100% of and have my percentage of the income from the other two flow this one. Mainly for 2 reasons: vehicle bonus depreciation (that way it is not split across the partners of my other firms) and to show banks a consolidated income stream from a single source for borrowing purposes.
Most Popular Reply
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
- 1,762
- Votes |
- 1,982
- Posts
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
The default tax classification of a SMLLC is a disregarded entity. If you have a SMLLC own your partnership interests nothing changes presentationally or numerically for federal tax purposes.