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How many rentals do I need before setting up a limited company?

+2 votes
What are financial advantages, if any... versus adding income to my individual tax return.
asked Jan 9, 2014 in LLC by anonymous
   

1 Answer

+3 votes
You should setup an LLC as soon as you start any business. So it would be your first rental. It will provide legal protection from your personal assets and home. If someone sues your LLC because of something that happens at your rental, typically your personal assets are protected. This is very important!

Their may be some or no tax advantages.
answered Jan 9, 2014 by Richard S Inquisitive Expert (6,360 points)

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