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All Forum Posts by: Debra Johnson

Debra Johnson has started 2 posts and replied 4 times.

Tax, SDIRAs & Cost Segregation

Post: LLC or run through personal account for taxes and banking

Debra JohnsonPosted
  • Posts 4
  • Votes 3

If the property is purchased in our personal names and we set up an LLC for the one property would that LLC protect our personal assets?

0 Votes
Boise, Idaho
Tax, SDIRAs & Cost Segregation

Post: LLC or run through personal account for taxes and banking

Debra JohnsonPosted
  • Posts 4
  • Votes 3
Quote from @Shannon Allen:

I would recommend an LLC, it gives you further protection from liability. There is a one time filing fee and a yearly on-line renewal. For information on where to file check out

https://sos.idaho.gov/business...


0 Votes
Boise, Idaho
Tax, SDIRAs & Cost Segregation

Post: LLC or run single STR through personal account and taxes

Debra JohnsonPosted
  • Posts 4
  • Votes 3

Just purchased single, out of state, property for STR.

As a married couple do we set up LLC or run expenses and income through our personal names? This is in regards to banking and taxes?

0 Votes
Seattle, Washington
Tax, SDIRAs & Cost Segregation

Post: LLC or run through personal account for taxes and banking

Debra JohnsonPosted
  • Posts 4
  • Votes 3

Just purchased single, out of state, property for STR. We reside in WA. STR in Boise, ID.

As a married couple do we set up LLC or run expenses and income through our personal names? This is in regards to banking and taxes?

3 Votes
Boise, Idaho