C' Corporation Vs. LLC
I have already created a C' corporation just because, currently it has no assets yet. But I have some rental property that I have personally that I would like to transfer either into my corp. that is already created or start up new with an LLC with which I will bring all the people that are set up in the corp. already (initial startup cost not an issue).
What I plan to do is flipping, and rental property management with the company owning the majority of the rental property.
What I’m looking for is:
1.) Complete asset protection along with very limited to no personal liability on me or my officers.
2.) Tax-deductions and tax benefits
Finally I want to do this without forming two companies
Before we dig into your issues, I'd like to ask why you want to avoid using two companies...
It is extremly inexpensive to use multiple entities. I pay less than $300 to set up my companies.
I don’t see a reason to have two companies for a startup business that has little to no assets that will essentially be doing the same thing. I’m just looking for which entity has the best asset protection along with tax breaks and benefits.
From my experience, an LLC is better asset protection than a C-Corp.