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Updated 3 months ago on . Most recent reply
Forming LLC or keeping properties under my name
I just closed on my second property and want to flip it. I purchased it under my name but was thinking of transferring it to LLC. Is it advisable to do that for protection and tax deductions? the other rental property that is also under my name.
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Quote from @Karan Shergill:
I just closed on my second property and want to flip it. I purchased it under my name but was thinking of transferring it to LLC. Is it advisable to do that for protection and tax deductions? the other rental property that is also under my name.
LLC HAS NOTHING TO DO WITH TAXES! Its a pass-through entity for tax purposes.
All moving a property to a LLC will do for you is add cost.
- Chris Seveney
7e investments
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