Which Is More Advantageous - Corporation Or LLC?
I was talking with a co-worker who has a rental and he set up a Corporation instead of an LLC to operate his rental under. He told me that he felt a Corporation was better, more tax advantages and also more difficult for someone to get at your personal property. I feel I'll need to do something once I start getting rentals.
Any input?
See a CPA experienced with real estate investment...corp. may not permit you to use losses on your personal tax return...carry lots of liab. ins, and consider legal insurance, such as Pre-Paid Legal, Ada, OK...and go after deals with lots of equity to pay for these costs of doing business.
Avoid the headaches and being misinformed...talk to your cpa.
http://www.thecreativeinvestor.com/Article368.html