Do we 1st do tax on the LLC and whatever we split 50 & 50 then each claims on their taxes ?

Hi Steve, where did you get your property tax estimate from?

Hi! I have a short term rental property. It's a 5th wheel located at a campground. It does not get moved. Will the RV be depreciated at 5 years or 27.5 years? I am unable to find anything giving me a for sure answer. ...

Is taxes going to be higher today or higher in the future? 

You have the ability to sell while limiting your capital gains tax because you lived in 2 of the last 5 years. 

Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

That means creating a clear budget, forecasting cash flow, and maintaining a detailed financial model that tracks both the current and future performance of your portfolio.Tax Optimization & Risk ManagementBeyond financial clarity, strategic tax planning and risk management are essential to safeguard and grow your real estate investments.

I'm not a tax expert, but I work with them.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

They don't require employment verification, income or tax returns.