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Q&A (back to index)

set up a LLC for investment properties?

Posted by reddog1250 on 07/23/2008 - 11:09

I live in NJ. I own 2 properties in PA, both with mortgages. Both are investment properties, in my name as the sole owner.

Would it be beneficial to set up a LLC for accounting and tax purposes?
What kind of LLC should I establish?
What are the advantages and disadvantages of setting up this LLC vs. leaving everything under my personal income tax statement?

Thank You.

Thomas Carlen, banker, NJ

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