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Idea from Kevin Johnston

Title

Putting Personal Property into a Limited Liability Company: The Consequences for Your Taxes

Summary

You can transfer your personal property to your limited liability company, but you should know the tax consequences. An LLC is a pass-through business entity, so it does not pay taxes itself, but LLC members may face higher taxes.

Author

Kevin Johnston

Keywords

  • LLC
  • transferring personal property
  • business property
  • personal property
  • tax liability