To INC Or Not INC????
In some of the books I have been reading on REI and other inveisting, they reccomend setting up a corp. solely for the purpose of investing. I was considering setting one up for my real estate investments. I have a neighbor who can get it done for me(yes he is a lawyer) for around $200. From what I read the main reason for this is so you can keep you personal finances seperated from your bus(ie lawsuits). Have any of you taken this step before investing?
The type of business entity that would work best for you might not be a C-Corporation.
Yes, a business entity can provide some measure of asset protection, but there is NOT a one-size-fits-all answer here.
Your tax advisor, your CPA, your attorney, and your estate planner should all contribute to the decision on the best entity for you.
An excellent read is "Own Your Own Corporation" by Garret Sutton and it is part of the Rich Dad's advisor series.
This book gets deep for the novice but gives you TONS of great information.