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llc and taxes

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physicsdude Guest	Posted: Fri Jan 15, 2010 11:53 pm    Post subject: llc and taxes Like 0 Dislike 0 Hi. I have an apartment in my home in California. We take in about $1000 a month. I would like to reduce my taxes on this by forming an llc, and transfering my home to it. Here's my question. Is there a way I can do this, and still deduct my mortgage interest from my personal taxes? If not, it wouldn't benefit me at all. Thanks Matt _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Niicss Joined: 03 Oct 2005 Posts: 4770 Location: New Jersey 499.28 Dollars($)	Posted: Sat Jan 16, 2010 2:17 am    Post subject: Like 0 Dislike 0 I would suggest you to contact your tax advisor in this regard. If the mortgage remains in your name, then I think you would be able to claim the deductions on your mortgage interest payments. _________________ Good is the Enemy of Great.

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