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Yes but by putting your rental property under the same entity as the law firm, if you got sued for anything they could get to your rental property as well. Just do it under its own LLC IMO.
For sure - my PLLC’s business is not super high exposure, but the sub is a reasonable suggestion. The accounting is getting a bit beyond me for that though.
So how does a disregarded entity save for a down payment?
You put money in the entity’s bank account, and then make the purchase. Afterwards the deduction passes to you personally. Confirm with a CPA, but that’s my understanding. The entity still needs separate books and accounts, but the tax consequences of its activities pass to you.
I wouldn’t do this. In the states I’m licensed in (TN, MS, AR) PLLCs and PAs can only render professional services. Plus, not mixing the two protects your law firm from premises claims on the rental property.