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Updated over 5 years ago on . Most recent reply
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Taxation for LLC / Personal
I have one rental property that is under my personal name. I'd like to buy a second and put it under a LLC. My question is, since I've never ran a business under a company name, how do the taxes work? Will my LLC pay taxes on the income received from rent and I pay taxes on income received from the company in affect being double taxed? If so, is there a way to avoid this?
Thanks.