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Updated about 1 year ago on . Most recent reply
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Can I hire myself to perform repairs on my rental properties?
Good morning - I am new to the forum and excited to read all of this informational content. My question is straightforward. I perform most of the repairs on my rental properties. I am wondering if I should start a "repair LLC" and have my "property LLC" hire me. I am thinking i can deduct items (i.e., labor, tools, storage, etc.,) that i normally wouldn't be able to. Not sure this would lower my taxes since the property LLC can expense the charge while the repair LLC would have to claim this as income. Wondering if a strategy exists for this type of relationship or if anyone out there has explored this. Thanks!