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Updated over 3 years ago,
California LLC setup for expenses?
Hi All,
I've been pondering about this so I thought I query the forum.
I'm a newbie investor and so far I have not purchased a property yet. However, I've been looking, researching, etc.
I'm wondering if it's feasible to set up a LLC so I can deduct some of the expenses associated with "the business"? I know there's no way around California LLC (for income) unless I move out of the state. However, is it logical to think this way...that is, if I setup a California LLC, which costs about $800 a year, and if I have yearly expense of $800 or more that I can deduct (from subscriptions, conferences, traveling to see a property, etc.), then it's worth it? Down the road, when I do move out of the California, I can move the LLC or set up elsewhere?
Thanks in advance for your comments and feedback.
Ted