There’s a small annual fee for registration, so make sure you stay on top of this to avoid penalties.2.

I’d love your input on whether this deal could appeal to investors and how best to structure it.Property Details:Worth: ~$300,000HOA: $273/month, Taxes/Insurance: ~$170/monthCurrent Rent: $1,880/month (long-term); next tenant advertised at $1,950/month.Mid-term rental potential: ~$2,400/month (I haven’t tried this, but it’s my estimate).My Financing Idea:Large down payment: ~$125,000 (This is my priority to reinvest elsewhere).Seller-financed balance: ~$175,000 at 4.25% for 30 years.Buyers take over taxes, insurance, and HOA.Questions:1.

This avoids any conflicts of interest. 

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

And you would get to indefinitely defer all tax on the gain from the sale.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

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@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

And she’s the one that released the latest tax rates and year to year comparisons in September of 2024.