LLC? Trust? Which one?

1 Reply

Hello again guys!

So we are purchasing the second property and it has ridiculously low taxes compared to other properties around it. This is because it has a senior citizen exempt and freeze on it. My real estate agent told me that we should put the property in a trust within the first year and put a senior citizen in the trust at .01% profit of the interest? If that was said right. That way we keep the discount. With that in mind I should do that with my other property as well.

Then there's the option of the LLC of course. What I am really looking for is come books or something on which to choose or go. What the tax difference is when filing taxes. Side by side comparisons?

If you have any info please let me know. Or if you know a good book about this please put up suggestions.

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