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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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Thanks for advice, I need some more clarity. I own 15 rental

Customer Question

Thanks for advice, I need some more clarity.

I own 15 rental properties, with my Husband on the dead. 15 mortgages.

My husband employed by another company.

I am a MA resident, majority of Rental buildings in RI.

Since, LLC is an entity that's created by state not FEDERAL (IRS).

I can file as a SINGLE member LLC, and proceed filing 1040 and

REPORTING my income on Schedule E. (Makes the accounting process easier)


How will the state know, I have an LLC, I simple pay by annual MA's dues?

Can, I bundle few properties together? This creates some liability protection?

MA's LLC fees are quiet costly $500.00 per LLC.

Question #2.

How is a single LLC different than SERIOUS LLC, Delaware Serious LLC?

Is it treated the same. OR MORE LIKE partnership. It will be a nightmare accounting wise.

Liability protection is one of my CONCERNES.

Question #3.

I am estimating this year I will generate 60K profit from rental business.

Perhaps, I should charge a fee for managing the properties. But I will

Incurred: Schedule C self employment tax etc.

I have a ROTH IRA account; I put away maximum 6K,


Looking forward to receiving sound advice from you.

Thank you.
Submitted: 6 years ago.
Category: Tax
Expert:  BK-CPA replied 6 years ago.

This question has been answered as an add-on reply to an already answered question. Don't respond to this info request to let this question die out.


Thank you.


Edited by BK-CPA on 6/2/2010 at 10:12 PM EST