LLC or S corp
I'm not sure of the "true practical differences" between them. Someone told me that "LLC"s are required to pay a higher tax rate. Also that an "LLC" can be taxed twice, {i.e.} capital gains & withdraws. I have three properties and I feel ready to pursue investing a little deeper. Any help or advise?
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You are right... LLC's can be taxed twice.
However, LLC's are alot easier and cost less to set up than the S corp. If you really want to know what is best for your situation, than contact a business attorney in your area. They can explain the difference between all the two. hope this helps.
LLC over S-corp for basic real estate investing. Just file it as partnership...