Is the New Tax Code Good News for Single-Member LLCs?

3 Replies

Given the new tax code, are there any tax advantages to titling a flip property under a single-member LLC vs under my personal name?

Many thanks in advance!

Mark...

Originally posted by @Mark J. :

Given the new tax code, are there any tax advantages to titling a flip property under a single-member LLC vs under my personal name?

Many thanks in advance!

Mark...

The new Tax Code is a DREAM for small business owners, especially real estate investors! An LLC is for asset protection and has no impact on your taxes (unless you do something really stupid like declare it as a Corp. for tax purposes which you won't do now since you know.) Keep it simple. Buy the property in your LLC for asset protection and do your flip (buy & hold is better) but you get the idea.

Thank you Account Closed Appreciate the clear, straight-forward answer. I will proceed that way.

Could you offer any details on specifically how the new tax code is a benefit to small business owners and how a part-time real estate investor like me could benefit?

Thanks!

Originally posted by @Mark J. :

Thank you @Mike S. Appreciate the clear, straight-forward answer. I will proceed that way.

Could you offer any details on specifically how the new tax code is a benefit to small business owners and how a part-time real estate investor like me could benefit?

Thanks!

 I think you want to check out "Section 199A: Pass-Thru Deduction"

If you are a trade or business (flipping, rehab, consulting etc) and make under $157,500 filing single or $315,000 married filing jointly, your life just got a lot easier and more $ucce$$ful. Thank Trump.