First Airbnb rental in TX

[Viviana Villegas]

I'm in Dallas, Texas and just started renting out my first Airbnb rental, I need CPA or legal advice on whether we need to form a LLC now or wait until we have more properties. Since this is our first one, I have heard mixed advice and even from podcasts that you might not need to do it if you only have one but should start looking into it soon. Will it benefit for us to have income coming in under the business at this point? Will I be able to file a schedule E as an individual or is that only if I create LLC.

[David Disraeli]

Franchise Reports are free in Texas with revenues under $1.1M and take 3 minutes.