LLC

Client buying a commercial property. He will rent one side and lease out the other side.

a. Is there any taxable advantages/disadvantages to putting the property under an LLC instead of his individual name?

b. He is self employed. Does he save on Social security?

c. does the rent from tennants hurt him in anyway being made out to him instead of an LLC?

Any help would be appreciated.

Doug



This is the correct place to pose this kind of question but ……..

If he has a single member LLC, tax reporting for federal purposes will be the same as if he owned the property directly.



Add new comment

Log in or register to post comments