We’re new to hosting on Peer Space and rent our home out occasionally for TV/Movie productions but nothing else. Is it advisable to create an LLC for this?
Yes. Contact Eco Financial Group $300 total with EIN&LLC 313-422-1300 I do it for all of my productions and specific rooms in my homes or businesses. Like my podcast rooms are completely separate from my event center.
It can be beneficial. Depends on why. You can deduct expenses easier this way.
It doesn’t necessarily protect you from liability tho. For that you’d need to move your home title and mortgage into the LLC.