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What is the best entity to hold real estate- taxation wise?
Hey guys,
Could you please help me out?
Lets say I have one paid off property, if I put it into a trust- taxes seem pretty high...So its a no go...
1) If I put it into a one member LLC then taxes are paid by the LLC owner on a personal tax return, which is not great either because I would rather not have any properties on my personal tax returns...But is taxation of a real estate held in an LLC generally cheaper than taxation of real estate held in corporations (C or S corp) or other entities?
2) Can I file taxes for an LLC separate from my individual tax return? If yes, then are there tax brackets for an LLC?