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Updated about 2 years ago,
Tax advantages for STR/Airbnb owners
Hello All,
Quick question to see what others are doing for optimizing tax advantages for STR.
Background:
We got a second/vacation home during the pandemic and now its ready to go online as an STR in the Russian River area in Sonoma, CA.
The property is in our personals names and we are going to use a vacation rental management company for day to day management.
Question:
Are there any tax advantages of setting up an LLC and going into contract with the management company for the running the business instead using our personal names and back accounts ? Wondering what others are doing when they have the house in their personal names and using a management company for day to day running of the business.