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Updated about 5 years ago,

User Stats

15
Posts
5
Votes
Ducote Kiernan
  • Rental Property Investor
  • Magnolia, MS
5
Votes |
15
Posts

I don’t want to take any profit.

Ducote Kiernan
  • Rental Property Investor
  • Magnolia, MS
Posted

I have a few rentals and I owe what I consider a great deal of money on them. I have a good job and don't need the money honestly and the property's pay for them selves. I make a few hundred a month off then and I just want to keep all the money in the LLC and pay all the properties off before I reinvest it or use it in any way. So my question is if I use all the extra funds to pay off the properties and not pay my self will the irs take away my LLC? And are their any other downsides to doing this?

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