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Updated over 12 years ago,

User Stats

35
Posts
2
Votes
Gary Li
  • Investor
  • Rowland Heights, CA
2
Votes |
35
Posts

LLC Entity, TAX, Licenses and others

Gary Li
  • Investor
  • Rowland Heights, CA
Posted

I am new here, and just start Housband and Wife two members LLC in CA to manage my own rental properties, I have 4 single family rental properties in CA, I want to long-term hold them, rental net income will not exceed $20K yearly, we will not take salaries from the LLC, from the TAX saving and personal asset protection points of view,
Is LLC the best Entity for us? any suggestions?

Other questions:
What kind of Taxes should I pay? (all types of Taxes)
What kind of business licnese should I have?
Do I need FEIN?
What else Do I need normally?

Thanks

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