I’ve heard something along the lines of buying to many homes in your name opens up a lot of problems. One of them being I would no longer qualify for certain tax benefits on my primary house. If this is true does having an llc resolve that problem? Does anyone have any information on this?
Thanks
Whatever you heard is probably wrong. As far as your personal income tax return is concerned, there are no primary residence tax deductions affected by the number of investment properties you own.
If you can be a little more specific about what you heard, we can correct the misinformation you are hearing.
As a general rule, an LLC is tax neutral. In other words, your personal income tax liability is not changed by the presence or absence of an LLC.