I would like to know if I'm better off taking a property that I only plan to hold for six months. Am I better off taking it as a person or LLC (best possable tax advatage ? )
If you are buying it with all your own money (aka no mortgage on the property) then it is better you take it in a business entity like an s-corp or an LLC. Now if you only plan on having it for 6 months - it is better you take it in an s-corp for tax advantages.
I am not a CPA, but this is the advice I've heard before... LLC's work better for long term buy and hold, like rentals!
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If you are buying it with all your own money (aka no mortgage on the property) then it is better you take it in a business entity like an s-corp or an LLC. Now if you only plan on having it for 6 months - it is better you take it in an s-corp for tax advantages.
I am not a CPA, but this is the advice I've heard before... LLC's work better for long term buy and hold, like rentals!
Good Luck!
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