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Updated over 1 year ago on . Most recent reply

Joshua Ellis's profile image
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Joshua Ellis
  • Member since Apr 23, 2023
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Joshua Ellis's profile image
Joshua Ellis's profile image
Joshua Ellis
  • Member since Apr 23, 2023
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Joshua Ellis
6
Votes |
7
Posts
Short-Term & Vacation Rental Discussions

How to pay myself

Joshua Ellis
Posted

My dad and I are going to be purchasing a rental property soon under the LLC which he owns. What would be the best way for him to distribute my income to me. I want to be legal and also take advantages of the tax benefits if able. I've heard of possibly having him pay me dividends which can be tax deductible for him/ tax free income for me. Looking for ideas. Thanks!

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Joshua Ellis's profile image
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Joshua Ellis
  • Member since Apr 23, 2023
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Joshua Ellis's profile image
Joshua Ellis's profile image
Joshua Ellis
  • Member since Apr 23, 2023
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Joshua Ellis
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Posts
Joshua Ellis
Replied

CPA it is! Definitely don't want to get audited or anything of that nature.

Thank you all for your comments

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