Run rent property through personal or as a business?
December 14th, 2011 by admin
Does anyone have advice on the best way to treat income and expenses on a rental property. Wondering if it’s best to collect rent and pay expenses through an LLC or just personally. What are the tax consequences of being taxed like a corporation (1120-A) versus just putting everything on my personal (1040 Schedule E)
Related posts:
- How does a foreclosure impact your personal credit if its owned under an LLC? I set up an LLC when purchasing some rental properties (3 fourplexes) and might need to go into foreclosure. Will this impact my personal credit? My wife and I...
- I am looking for a commercial mortgage lender to finance this property that I rent and have a business & live? I own a business but rent the building and also live in the building. I need to buy the building. I have been here 4 years with a growing...
- I collect rent from property in Mexico, do I report that on my 1040? I own some houses in Mexico and rent them out. I keep most of the proceeds from these houses in Mexican banks. when I travel to Mexico I almost...
- What if after the sale of personal property, the buyers never chg the title or assessment to their name? What should you do if the personal property tax office for a state you no longer reside in is seeking you for payment on personal property for real estate...
- Is it legal to rent a property to a private tenant and still use that property as a Business address? Surely if a tenant pays rent it means that it is their home. So can a landlord still use his property as a business address for correspondence. Correspondence has...











































0 Responses to “Run rent property through personal or as a business?”