I have two properties, one in Maryland and one in NY. Both are section 8 tenets, and I want to form an LLC just so they can pay rent to the LLC.
Here is my question: for tax purposes, does that matter? Do I need to put the property themselves in an LLC in order for me to have some sort of tax haven or is just forming an LLC for them to pay me give me that tax haven? I've been trying to figure this out, thank you
Forming an LLC in itself is not a tax haven. You'll still have to pay your taxes.
A Limited Liability Company aka LLC is for liability protection(if done properly) it doesn't absolve you of your tax obligations.