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4. Using LLCs In Your Real Estate Business

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We've talked about forming a limited liability company and today's show focuses on whether or not you should use an LLC for investment property as an investor or a flipper. We start off with a crazy story which we hope none of you ever have to personally go through and we then follow it up with a tax and accounting look at how starting a real estate investment LLC can affect your business.

Specifically, we discuss:
– How an LLC affects your tax situation;
– Why some flippers open and close an LLC per flip;
– What the cost implications of partnerships and S-Corps are.

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Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

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