Okay, I understand now that LLC is better for holding. For flipping, would just a C-Corp be better, or S-Corp?
There are more allowable write offs with a corp. That said, if you are starting out you can avoid a large part of the self employment taxt through and S corp by taking most earnings out as capital gains. THis saves about 15% ont he tax bill [addsig]
There are more allowable write offs with a corp. That said, if you are starting out you can avoid a large part of the self employment taxt through and S corp by taking most earnings out as capital gains. THis saves about 15% ont he tax bill
[addsig]