LLC'S vs Millions dollar umbrella insurance policy for rentals?

[Guillaume Derouet]

Hi Guys, what is the best for liability insurance when you own rentals properties?

Is it to have each property under an LLC or having a 1 or 2 million dollars umbrella liability ?

Please let me know your thoughts, i would appreciate.

Merci.

Guillaume

[Steven Hamilton II]

Originally posted by @Steve S.:

LLC gives you tax advantages if you set it up correctly and have a great CPA ... then your umbrella policy is tax deductible to the LLC as a business expense, along with your mileage, bills, your triple whip soy latte and many other things. Oh write-offs ... how we love thee

@Guillaume Derouet

Wrong. The LLC does not give you any more in deductions than you already could. As long as you are treating it as a business. That said do not give incorrect advice to people, I have to correct mistakes like yours far too regularly. The only additional item would be your LLC fees.