Tuesday, August 2, 2011

Entity for apartment building? LLC, S-Corp, Personal Name? Florida?

I am buying a 4 unit apartment building and plan to live in one and rent the others. I am in Florida. My question is Im unsure which entity to run the building in. Should I leave it in my personal name (and get a $50000 homestead exemption on taxes = +-$1000/yr) or put it in an LLC and run it through that. I heard of a recent court ruling in which single member LLC's dont offer protection to the owners. Any help appreciated

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