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Updated almost 2 years ago on . Most recent reply presented by

Omar Daniel Medrano's profile image
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Omar Daniel Medrano
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Omar Daniel Medrano's profile image
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Omar Daniel Medrano
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Omar Daniel Medrano
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Tax, SDIRAs & Cost Segregation

3 single family homes and 1 primary home.

Omar Daniel Medrano
Posted

Looking to take advantage of tax breaks in my properties, have 3 single family homes that are rented out and my primary residence is being house hacked with two tenants. What's the best way to go about putting my homes into LLCs to take advantage of tax breaks. I know I need to find a RE Lawyer and CPA but also have no idea how to start doing that. 

Dallas, Texas
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Chris McCormack's profile image
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Chris McCormack
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  • from Edina, MN
  • Member since Mar 9, 2020
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Chris McCormack
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  • from Edina, MN
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Chris McCormack
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  • Edina, MN
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Chris McCormack
  • Accountant
  • Edina, MN
Replied

LLCs will not get you tax breaks. LLCs are for legal protection. If you want tax breaks I would suggest finding a real estate specific tax professional who specializes in planning / strategy. There are plenty floating around here!

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