Updated about 8 years ago on . Most recent reply
LLC? Tax advantages? Write offs?
So I understand that having an LLC is beneficial but I have no idea where to start learning about the benefits and how it works. Any suggestions on business finance books or online classes (preferably free) so I can start to wrap my brain around how it separates my personal finances from my business. I keep reading/hearing that showing a loss is a good thing for taxes but is it really a good thing for business? For example would there be any benefit to putting my PR in my LLC and technically renting from my LLC? As I understand it I would just lose the tax write off on my personal taxes. Is that correct?
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Natalie Kolodij
Tax & Financial Services
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FYI: Literally no difference in depreciation or any other expense when your rental is in your name vs. your llc.
Nothing.
Kolodij Tax & Consulting