Cpa says I have to paymyself through my mmllc?

[Aaron Marx]

My wife and I just bought a duplex in the state of Iowa, we set up a mmllc to put on title of said property. I called a friend who is a cpa, he told me I would have to pay myself, which would mean extra taxes.( The property only brings in 1450 a month with a 950 mortgage.) From my research I have personally done the llc is just an extension of my personal income. And I dont have to " pay myself" as it is a pass through entity. He said he didnt know much about the llc setup, and I tend to believe him. As I believe this info is untrue in my case. Am I wrong in my assumptions. Am I not understanding something. Any insight would be greatly appreciated.

[Patricia Steiner]

You get what you paid for...and "friendly" advice is often incomplete. There's a big difference between a LLC and MMLLC. This will provide you with more detailed information:

https://gusto.com/blog/start-business/multi-member-llc

It's hard to overcome stupid so do your homework and then invest in good tax counsel if needed.