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All Forum Posts by: Michael Perschke

Michael Perschke has started 1 posts and replied 3 times.

Thanks Jon. Now that I have typed it and read it to myself I am realizing I over thought this one.

Thanks

Wayne, thanks for the quick reply. I originally wanted to refinance the house into the LLC, however my current rate is great and it seemed like more of a hassle to do it.

First time renting but I am looking to add more properties in the future. Future properties will be purchased by the LLC.

I just didn't know if it was going to be a problem at the end of the year if the LLC shows a larger gain than if it had a mortgage to pay.

EX: (1) LLC brings in $18,000 because it pays no mortgage. Taxes show gain of 18k.

EX: (2) LLC brings in only $8,000 because it pays a mortgage of 10k per year. Taxes show gain of only 8k.

In EX(1) how can I offset the 10k gain?

Hi, new member here. I own a home with a mortgage in my name (primary home). I recently started an LLC and am renting the home through the LLC. The home is not in the LLC, how can I have the LLC make mortgage payments so that the LLC doesn't just show income at the end of the year?

Could I bill my LLC for the mortgage?