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Updated about 6 years ago on . Most recent reply presented by

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39
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David C.
  • Chicago, IL
9
Votes |
39
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Delay new HVAC until LLC (for tax reasons)?

David C.
  • Chicago, IL
Posted

Quick help needed. Thanks in advance.

My HVAC on my 1 rental is due for an upgrade and I've got a date tentatively booked. But I'm also progressing to set up an LLC and transfer this rental into that.

For tax deductions, am I better off waiting until it's an expense for the LLC or does it not really matter because I can access the same tax deductions on my personal tax return?

CPA not yet signed up so stuck for professional advice on this. 

GO AHEAD or WAIT?

Tnx

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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
1,764
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1,982
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
Replied

@David C.

Assuming it's a single-member LLC taxed as a disregarded entity, there's zero tax difference.

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