There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If your not ready to spend money on a software you can use tax records.

Another wildcard is that the tax office opened in The UAE a year ago.

How is it a tax strategy though?

There could be local considerations that are tax and inheritance related.Thanks for the reply Ken.

That's 50k a year gone and you are losing tax write-offs and equity potential.

Zachary,Your concerns about Cleveland are valid—high property taxes and stagnant population growth are definitely challenges to consider.

The same thing you claim on your tax return for your properties.

If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.

How is it for preparing taxes?