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Updated almost 4 years ago on . Most recent reply presented by

Viviana Villegas's profile image
Viviana Villegas's profile image
Viviana Villegas
  • New to Real Estate
  • from Texas
  • Member since Feb 27, 2021
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Viviana Villegas's profile image
Viviana Villegas's profile image
Viviana Villegas
  • New to Real Estate
  • from Texas
  • Member since Feb 27, 2021
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Viviana Villegas
  • New to Real Estate
  • Texas
1
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10
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Tax, SDIRAs & Cost Segregation

First Airbnb rental in TX

Viviana Villegas
  • New to Real Estate
  • Texas
Posted

I'm in Dallas, Texas and just started renting out my first Airbnb rental, I need CPA or legal advice on whether we need to form a LLC now or wait until we have more properties. Since this is our first one, I have heard mixed advice and even from podcasts that you might not need to do it if you only have one but should start looking into it soon. Will it benefit for us to have income coming in under the business at this point? Will I be able to file a schedule E as an individual or is that only if I create LLC.

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David Disraeli
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  • from Cedar Park, TX
  • Member since Mar 20, 2017
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David Disraeli's profile image
David Disraeli's profile image
David Disraeli
  • Financial Advisor
  • from Cedar Park, TX
  • Member since Mar 20, 2017
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David Disraeli
  • Financial Advisor
  • Cedar Park, TX
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David Disraeli
  • Financial Advisor
  • Cedar Park, TX
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Franchise Reports are free in Texas with revenues under $1.1M and take 3 minutes.  

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