OfflineWhat kind of business entity should I use if I want to strictly wholesale, for tax purposes
thanks
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wholesale Question
Posted on: Thu, 11/14/2013 - 21:05
What kind of business entity should I use if I want to strictly wholesale, for tax purposes
thanks
LImited Liability company. I am not an attorney so this is not to be taken for professional advice. You will notice that most do so in an LLC, but you can read up on it or contact your CPA or an attorney.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
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www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
In response to bigskye71, I agree with femailceo. By far, the most common form of entity for real estate investors is the LLC. It allows you to select your method of taxation to be more equivalent to a partnership, corporation or individual, so you can tailor your setup to be the most advantageous to you. While the LLC may not have quite as many potential deductions as a corporation, the ones that are available are well suited to most real estate investors.
To reiterate, we are not allowed to legally advise you, nor can we specifically address your personal finances or tax situation. That counsel is reserved to licensed attorneys and accountants.
Dallin Wall
Real Estate Training Team
Forum Blog Location--A collection of my
"Best of" posts:
http://www.deangraziosi.com/blogs/dwall