Should I run my Airbnb through an LLC for tax advantages?

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Should I run my Airbnb through an LLC for tax advantages?

Kevin Krysty Jr.
Real Estate Broker · Southern Pines, NC · Member since 2018 · 28 posts · 4 votes

Hey folks! My wife and I have just finished converting our mother-in-law suite into a cozy little studio apartment, we threw it on Airbnb and it is getting booked up like crazy. My question is, what would be the most efficient way to operate this for the most tax advantages/breaks as opposed to claiming it on my own personal taxes? 

Appreciate the input. 

Kevin 

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  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y

    @Kevin Krysty Jr. Even with an LLC it'll go through your personal taxes on a schedual e. That's still the most efficient way

    0Reply
  • Kevin Krysty Jr.
    OP
    Real Estate Broker · Southern Pines, NC · Member since 2018 · 28 posts · 4 votes
    7y

    Thanks @Jason D....I appreciate it! 

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    7y

    @Kevin Krysty Jr.

    Depending on what services you provide, the business may or may not be subject to self-employment taxes. 
    There may be some advantages of having it set up as an S-corp if there are self-employment tax implications.

    [email protected]917-280-8544
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