Rental property under your LLC?

[Jordan Mandel]

Hi BP Fam,

I understand there are tax benefits to running your rental property under an LLC. Other than listing your entity on the lease, paying your mortgage from a business checking, and keeping rental income within that business account - are there any other essential items needed to ensure my rental property is falling under my LLC for tax purposes?

Thanks so much!

[Jaysen Medhurst]

There are absolutely no tax benefits to using a LLC, @Jordan Mandel. They are pass-through entities. LLCs provide asset protection and an organizational structure. If you only have a few properties, which you wholly own, it's probably easier to keep title in your name and make sure you have a robust umbrella policy for asset protection.