Tax filing for LLCs

4 Replies

Hi, I am a newbie and probably a month or so away from buying my first single family house to rent out. I will probably purchase at least 4 more this year. I plan on putting each house in it's own LLC (I am in Georgia). My question is, does each LLC have to file it's own tax return? Seems like that could get expensive, since I use a CPA for my taxes.

Most CPAs I've spoken with charge either based on each return or per work hour. I'm thinking each LLC will require its own return, since it's its own legal entity and separate from you, unlike a sole proprietorship where your and your business's money are linked. I could be mistaken, so of course you'll want to talk to your CPA about it, but that's my thought. Hope it helps some!

@Brandon Hall , thanks for the clarification!

Originally posted by @Brandon Hall :

@Pamela Spence @Chad Clanton

If the LLC is a single member LLC, it is disregarded for tax purposes and does not require separate forms. All properties will be reported on Schedule E if you are in the business of buy and hold.

Thanks Brandon, that is very helpful!

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