hah, the funny thing is, i know two instances where someone was made to choose.
Do you have GreenCard or Citizenship or Still in H1B? If H1B, I agree. If GC or C, you can easily choose, right.
I know a guy who can make your “thing” disappear from the IRS radar. He can set you up for a trust with multiple defense systems.
You also need to talk to a financial adviser, maybe, and I say maybe he can set you up for a corp, or whatever he thinks is necessary. Watch the word adviser, not advisor like me and everybody on this forum.
Open mind is required.
My point is not to hide from irs.
I recall that out of state LLCs are at a disadvantage when defending in a CA court. I forgot the details.
Even if you operate a CA LLC, you cannot defend per se. The disadvantage was something else.
I chose a CA LLC for that (forgotten) reason, back in 2009.
Would you register a LLC by yourself online, with a CPA or attorney?
Other than liability protection, LLC for rental property seems to be no use.
That’s what tax loopholes, pass through entities and whatnot do!
Many people use this and that from the Cayman Islands, Las Vegas, Carolinas, etc. And they do it to be kind of on the sidelines.
You need to be almost invisible to the tax scam, lol. What I mean for that is for you to not be showing tax liabilities. The more LLCs and this and that you add to your tax problems, the more you are going to be in the eyes of the IRS hawks. One mistake, and you are done!
I am not looking into this for the purpose of taxes. If it ends up making income, it will pay taxes accordingly.
Ohhh…had you told me!
Did you find anything?