Comments on: Landlord Attorney Corner: Using LLCs and SubS Corps http://landlordbusinessinsider.com/2010/01/landlord-attorney-corner-using-llcs-and-subs-corps.html "The way SMART Landlords DO IT!"™ Wed, 24 Mar 2010 17:21:00 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Marc http://landlordbusinessinsider.com/2010/01/landlord-attorney-corner-using-llcs-and-subs-corps.html/comment-page-1#comment-126 Marc Wed, 24 Mar 2010 17:21:00 +0000 http://landlordbusinessinsider.com/?p=96#comment-126 I'm not an attorney nor an accountant, so my comments are not actionable. I agree that an LLC or an S-Corp (properly documented) protect landlords from liability and I would never rent out a house in my personal name for that reason. The decision whether to use an LLC or an S-Corp is based on both legal and tax considerations. It is my novice understanding that both entity types cover liability well. It is also my novice understanding that the LLC is preferable from a tax standpoint (assuming you choose to be taxed not as a corporation or sole proprietor). I use S-Corp's for my consulting businesses and LLC's for my rental real estate. Again, I am neither an attorney nor a CPA, so I could be making a mistake. I made these decisions based on interviewing multiple attormeys and CPA's when I started these businesses in the 1990's and 2000's. I’m not an attorney nor an accountant, so my comments are not actionable.

I agree that an LLC or an S-Corp (properly documented) protect landlords from liability and I would never rent out a house in my personal name for that reason.

The decision whether to use an LLC or an S-Corp is based on both legal and tax considerations. It is my novice understanding that both entity types cover liability well. It is also my novice understanding that the LLC is preferable from a tax standpoint (assuming you choose to be taxed not as a corporation or sole proprietor).

I use S-Corp’s for my consulting businesses and LLC’s for my rental real estate.

Again, I am neither an attorney nor a CPA, so I could be making a mistake. I made these decisions based on interviewing multiple attormeys and CPA’s when I started these businesses in the 1990′s and 2000′s.

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