Rental Question For Buisness
I'm about to close on my first investment property.
Should I start to talk to accountant about setting up a buisness or wait until to takes off with more then on rental.
Could someone explain the different types of business like corporation etc?
Plus the benfits of each?
Thanks for the replies.
I would search using google on topics such as
"s-corp vs. LLC"
"using an LLC to hold property"
"What is a S-corp"
LLC's are reccomended for long-term holding, with corps reccomended for flips or shorter term holds