LLC, To Be Or Not To Be?

I own two small aparment buildings and was thinking of Forming an LLC to "protect my assests" or CYA. What are some of the thoughts on that?

And when it comes to Tax time, does anyone know if Turbo Tax will handle working through an LLC? Is it just safer and easier to go via the CPA?

Comments(1)

  • NewKidinTown29th March, 2005

    An LLC can elect to be treated as a corporation, as a partnership, or as a sole proprietor (disregarded entity). There are TurboTax products that will handle each of these, but a single product does not handle all. Tell us how your LLC will elect to be treated and then we can tell you which TurboTax product you will need.

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