Starting an LLC

in
Woodstock, GA
Level 1
236 Views

Am I able to start an LLC as a host for Airbnb in Woodstock GA?

7 Replies

Re: Starting an LLC

in
Taycheedah, WI
Level 1

Hi Charlee. 

I recommend that you start an LLC. This way your property is the business, and all your other assets are protected. You also then can claim expense tax deductions, on the income you make thru Airbnb.

Pearl Lake Rentals LLC

Re: Starting an LLC

in
Plymouth, MA
Level 2

I set up LLC but ABB says they wont manage the taxes, as they do w/property in my name, for my LLC. Any advice on how to manage this for LLC? Many Thanks, Dave in MA

Re: Starting an LLC

in
Swannanoa, NC
Level 10

@Charlee6   Do a little research (the library is a wonderful place to start) and then look at some of the websites that will describe the whys and how-tos of creating an LLC.  If you happen to know a real estate professional/lawyer or a tax accountant, talk to them about an LLC  and how to use it.

 

We have independent rental properties and they are deeded to our LLC.  This was at the recommendation of our tax accountant and attorney.

Re: Starting an LLC

in
Plymouth, MA
Level 2

Lorna - I have set up LLC for reasons you described but ABB says they will not manage taxes, as they do now, for the LLC. How have you managed this? Appreciate your insights. Dave in MA

Re: Starting an LLC

in
Swannanoa, NC
Level 10

@ChrisandDave0   My property is in an LLC but my listing is in my name as the member of the LLC.  Airbnb collects and remits the taxes to my state, county and municipality.  I file my paperwork with each tax authority stating that AIrbnb has paid it.   I am not sure why it would be different for you. 

Re: Starting an LLC

in
Plymouth, MA
Level 2

Thx! I figured it should work. They do it now for my current profile. When I switch to an LLC there is a field for entering the E number for the LLC. So it appears designed to manage it. Not sure why the chat agent said no?

Re: Starting an LLC

in
Arkansas, United States
Level 10

@ChrisandDave0 

 

They do it for us.

 

They don’t withhold federal or state income taxes, but I don’t want them to.

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