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Personal income -rental income how rental income effects your ta
Ok so I'm investing into my first rental property it's a 2 unit and I'm paying cash (20k). My biggest concern is how to avoid a higher tax bills because I'm single and make about 150k yearly.. What precautions should I take and will putting the property under an LLC help write of some of the taxes?
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Dmitriy Fomichenko
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Dmitriy Fomichenko
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Andre, placing your rental property into an LLC will not help you reduce the taxes. What you need is a knowledgeable and experienced CPA to do some tax planning. Reach out to @Brandon Hall or @Nathaniel Busch, both are experts in their fields and members here on BP.