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Updated about 19 hours ago on . Most recent reply

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Nicholas Martinez
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Purchasing 2nd house Hack but want to write off improvement and repairs with a LLC

Nicholas Martinez
Posted

Hello,

I'm Purchasing my 2nd house hack  as a new primary (5% down) and turning my old primary into a rental. My new house hack property needs some repair and I plan on doing most of the work myself. I've been in construction 10+ years and did all the work on my last primary myself with home owners permits but I wasn't able to deduct any of the expenses on my taxes. 

I was thinking I could start an LLC and and right off/deduct some of these expenses in my taxes. Does anyone have any experience on how to do this? Would I need to start the LLC and pull permits through the LLC? Would I need to charge myself as the homeowner for the work I'm doing as the contractor?

Thanks for expertise and time. 

  • Nicholas Martinez
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