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Updated 17 days ago on . Most recent reply
I need an advice
Hi, I am new to realstate and I want to make an airbnb in a house I own, for mortgage reasons, I can't pass the house to an LLC, would it be wise to create an LLC to do this Airbnb business transferring the responsibility to the LLC and get some tax advantages?
Most Popular Reply

There are no tax advantages to a single member, or partnership LLC. You do not have to have a separate entity to use legitimate business expenses on your tax return.
You can't transfer liability to an LLC that manages your property. You as owner are responsible.
I suggest you spend some time learning basic rules about liability, entities like LLCs and corporations and basic business taxation. Talk to both a experienced accountant familiar with real estate taxation and a good real estate attorney. NOLO Press have some very good legal self help books that can get you started.