forming a corporation
Hi all,
My husband and I are starting are real estate investment career. After doing some research, we see that it is recommended that you form an LLC. Why is it better to form an LLC rather than an S corp. if your going to hold real estate?
Also, should we form and LLC before we do any investing? and one more, are a husband and wife considered one member or two?
My wife and I are getting into this as well in the DC area. If you find out anything can you let us know? Thanks
Go to the articles tab of this site there is a lot of info on this subject matter.
It really depends on your personal opinion.
My wife and I formed a two member LLC with each of us as one member. LLCs are easier. With an S corp you form a C corporation, and then elect to have it treated as an S corp. There are also less ownership restrictions with an LLC.
There is a **Please See My Profile** http://www.incorporate.com/corp_type.cfm#llc