Oct 6 • ☀️ Chat
Closing cost as business expense?
So hopefully planning to buy my first STR.
Option A: close the loan under my personal name and get a better interest rate. Then transfer deed under LLC.
Option B: close under LLC to begin with but get a little higher interest rate on the loan.
Can Option A ( closing under personal name) allow me to use the closing costs as a business expense and be used as a tax deduction for W2 income ( using str loophole)?
If Option B ( closing under llc) will allow it then I need to see the difference in interest rate to see if makes sense.
Thanks in advance.
Faisal
5
3 comments
Closing cost as business expense?
Leaderboard (30-day)
1
+17
2
+14
3
+12
4
+9
5
+9
Powered by