 Should I create s-corp? (by Mike [CO]) Apr 16, 2018 6:49 PM
 Should I create s-corp? (by #22 [MO]) Apr 17, 2018 5:44 AM
Should I create s-corp? (by razorback_tim [AR]) Apr 17, 2018 7:51 AM
Should I create s-corp? (by NC INVESTOR [NC]) Apr 17, 2018 8:52 AM
Should I create s-corp? (by Mike [CO]) Posted on: Apr 16, 2018 6:49 PM
Message:
Should I create an S corp for my Schedule C income? I'm a real estate broker and I manage some properties including my own, or continue to file on a Schedule C? --98.245.xxx.xx |
Should I create s-corp? (by #22 [MO]) Posted on: Apr 17, 2018 5:44 AM
Message:
I'd discuss this with several CPAs or RE investor friendly accountants. Many pros and cons. I had a doofus in my market put me into S corps. Fully and foolishly trusting him entirely, I did.
After he and I parted ways, I interviewed 5+ cpas all of who said it was an awful idea. Once you're in one, things change and exiting the entity is costly in most cases. --173.24.xxx.xxx |
Should I create s-corp? (by razorback_tim [AR]) Posted on: Apr 17, 2018 7:51 AM
Message:
I’m not an accountant, but here she my understanding based on all of the research I’ve done.
Generally speaking, if structured and managed properly, S-Corp entities will save you part of your SE taxes on income that would otherwise be on schedule C.
It’s not a good idea to own rentals within an S-Corp.
If assets are moved in and out of the S-Corp it can be somewhat complicated and costly. --70.182.xx.xx |
Should I create s-corp? (by NC INVESTOR [NC]) Posted on: Apr 17, 2018 8:52 AM
Message:
I am also a RE Broker and I have an LLC. I originally had an S Corp and both my tax attorney and CPA recommended changing to an LLC for a long list of reasons.
As others have suggested talk to a CPA with experience in residential investment properties. --71.75.xx.xx |
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