Montana LLC Re-Visited
Hi guys, I recently spoke to someone who became a full timer and the conversation was interesting. He told me that he sold his home in New York and set up a Montana LLC. He then purchased a new MH...
Forum Discussion
Effy, putting your personal motorhome in an LLC would not even remotely translate to you taking deductions on your tax return for it. If you had an accident with your RV and it was not in an LLC, you would expose all of your assets, including your other LLC's to the lawsuit. If your motorhome was in an LLC you would expose only the assets of the LLC, in this case your motorhome, to the lawsuit. That isn't cheating in any way, shape or form. All you are doing is protecting yourself from vultures disguised as attorneys. Again, you are assuming that an LLC MUST be a business and that is simply incorrect. The stated purpose of the LLC can simply be to hold assets. All an LLC amounts to is a protective blanket against lawsuits.
