I wish that was true. I have rented two homes this
Post# of 148279
Quote:
I wish that was true. I have rented two homes this summer and both were listed as LLCs on each lease. I suppose different laws apply in certain states.
So that's to avoid paying taxes on the income somehow? But you get to deduct interest payments on the houses from your taxes.... I'm sure this is a very unpopular opinion, but I think you should just pay the taxes on the income.
But maybe there is another reason to make a company for your houses. If so, I apologize.
I'm probably prejudiced because I'm used to paying 45% income on taxes and capital gains. So trying to avoid the tiny American taxes seems like a joke to me.
This might be a political post. Moderators, feel free to delete.