All Forum Posts by: Tripp Weaver

Who all have you used to set up your LLCs for your investment properties? I am currently looking to set up an LLC to list our 3 short term rentals under. Also, will I continue to get the W-2 Tax benefits using the STR loophole if I move these properties into an LLC?

Thanks

Tripp

Hey guys,

Appreciate you all taking the time to read this. My wife and I are currently looking to purchase another STR. We currently own one that is a beach front home with a pretty hefty mortgage. I am wondering if I can use the rental income (around $100k) even though I claimed a paper loss on my taxes with our cost seg. study towards my income to keep my DTI down. Any help or advice would be appreciated.

Thanks,

Tripp

Hey guys,

First time post but really enjoy reading all of your posts and insights it has been extremely helpful to my wife and I who run an STR in Oak Island, NC. We completed a cost seg. study on the year of the purchase and it was very beneficial for tax purposes. This year we have been fortunate and are making money and using it to renovate the house to offset some of the income we are receiving from the home and are currently looking for other ways to write off and offset some of the income. My question is since we are doing some pretty extensive renovations can we amend our cost seg. or do another one? Thanks in advance for any responses. Also, please feel free to share any other creative ways to offset income

Thanks

Tripp