LLC or ABA

[Alan Miller]

I am considering buying a Florida vacation condo rental. As part of the consideration, I am trying to figure out how I can get the largest tax advantage. Is it better for my wife and I to purchase the property and have it under our names or to create a LLC and own it under that? Which has the better tax benefits to us? What are other pros and cons to each option? I am very new to all of this so I need lots of help and BP seemed like the right place to ask!

Thanks in advance for all your help!