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Yes. A Coeur d’Alene LLC is a favorite vehicle for owners of income-producing real estate seeking to establish a level of personal liability protection. Because the Idaho LLC is a separate legal entity, the objective is to transfer title from the individual to the LLC, to avoid being targets of any lawsuit arising out of the ownership of the property.

In most cases, you can transfer property into an Idaho LLC without triggering a taxable event.

One method is to have your corporation pay rent for a building which is owned by a separate LLC that you own. The rent paid by the corporation is a tax deduction for the Idaho business and the income from the rent is offset by operating expenses as well as the depreciation.

For Tax Resolution or Tax Preparation services in Coeur d’Alene Idaho click here.