Benefits Of LLC
We have several rental properties and wish to know if it is worth it from a tax as well as liability perspective to form LLC's for each of them? Can you describe the advantages? Also would an LLP be a better option? Also we plan to do some fix and flips as well, should we form an LLC in which to do this? Lastly, does the tax protection of an LLC allow you to flip an investment property in less than a year and not pay the short term capital gains rate on the sale?
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