All Forum Posts by: Andre Strickland

Thanks guys i appreciate the information..

Ok so I'm investing into my first rental property it's a 2 unit and I'm paying cash (20k). My biggest concern is how to avoid a higher tax bills because I'm single and make about 150k yearly.. What precautions should I take and will putting the property under an LLC help write of some of the taxes?

Thank you guys so much.. I guess I was just worried about how the income of the rental would effect my personal taxes.. Again thank you keeping in simple is what I will do.

Hi I'm Andre, I live in indiana I'm currently try to close on my first investment property which is a 2 unit rental.. My question is should I form a LLC or not due to tax purposes because I work as an electrician making about 150k and I'm single.. I'm also paying 20k cash for the property so I'm trying to figure out the best way to go about this tax wise.. So I have questions like can I form the LLC later, does me paying cash make a difference on when I form the LLC? I have a small window before closing any help would be greatly appreciated. Thanks in advance