GA RE Investor - LLC and Tax Question
1) Does your rental property need to be under an LLC to take advantage of tax decuctions such as depreciation and mortgage interest tax deductions or can you still take advantage of these deductions if the home is under your personal name?
2) Pertaining specifically to Georgia, in which cases would you set up an LLC for your rentals or do you simply buy umbrella insurance for protection purposes? I am asking as someone or is still a smaller landlord (under 1 million in RE assets).
Also, if anyone has book recommendations or websites/resources to learn about tax advantages relating to real estate that every sophisticated investor should know about, I would greatly appreciate any recommendations!