this post was submitted on 14 Oct 2024
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I knew a guy that did something like this. He had at least 2 LLCs, one which owned a building and the other owned a restaurant. So his building LLC rented space to his restaurant LLC, which simply never paid any rent. That way he could write off all that rent he didn't collect from himself as a loss for the building LLC. Dumbass still couldn't make the restaurant profitable even without having to pay rent.