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Updated about 3 years ago,
Expat Rental Chaos!!
Please be patient with me. First time on the board, I was googling things looking for answers and the forum kept appearing over and over. Decided I needed to jump in here and learn some things. Happy to be here!
My scenario is complicated to me and causing me great stress and my wife things everything is fine. (Please side with me)
We currently file married but separate. We currently live in California and plan to move to Colombia early 2022. We bought three single family homes for rentals in Ohio and did not setup an LLC or anything. We're not sure how to best setup things tax wise for our departure.
Were hoping to shield as much revenue as possible from the IRS while still filing correctly and doing things the right way.
File three separate LLCs, with us both attached to each of them? Or file two with myself and just one under her.
Do a series LLC with us both attached?
Should the LLCs be in Ohio or California?
Do none of it and just file our taxes normally?
I feel so lost!