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Updated almost 3 years ago,
Bookkeeping/Taxes at the Parent company level
Hey all, brand new one here - first post! I've been reading a lot, but can't find the answer to my question. I have two rental properties, building two new ones right now, and have four more lots on which I plan to build either SFRs or 4-plexes. Either way, my portfolio will be growing this year. I'm looking to keep 1-2 residences per LLC to minimize risk - so this will require me to have multiple LLCs. Unfortunately, that makes it extremely difficult for bookkeeping. I use QB Desktop and track my properties using Classes, but I don't want to have to jump between many separate QB companies to maintain my books. I have a parent company and my LLCs are members of that parent company. My question is - can I maintain all records and books and file taxes at the parent company level and treat my individual LLCs are disregarded entities?
Thank you,
Max