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Updated over 5 years ago on . Most recent reply

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39
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David C.
  • Chicago, IL
9
Votes |
39
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Delay new HVAC until LLC (for tax reasons)?

David C.
  • Chicago, IL
Posted

Quick help needed. Thanks in advance.

My HVAC on my 1 rental is due for an upgrade and I've got a date tentatively booked. But I'm also progressing to set up an LLC and transfer this rental into that.

For tax deductions, am I better off waiting until it's an expense for the LLC or does it not really matter because I can access the same tax deductions on my personal tax return?

CPA not yet signed up so stuck for professional advice on this. 

GO AHEAD or WAIT?

Tnx

Most Popular Reply

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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
1,762
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
Replied

@David C.

Assuming it's a single-member LLC taxed as a disregarded entity, there's zero tax difference.

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