Incorporation Question
I apologize if this is a dumb question, as I am not tax saavy at all. My partner and I are starting a REI company called xyz equities. We have been told we should incorporate. We will be pretty much doing it part time in the beginning. We are also trying cutting costs if possible. I am trying to learn, but am a bit confused as to whether we need to do a s-corp or c-corp.
We will be focusing on sub 2 deals with land trusts, acquiring rental props (tris/duplexes/quads) as well as buying and flipping REO's. We will both continue to work full time.
I am an onsite REA here in GA while my partner is a pilot employed in SC. All deals will be done in GA with me pretty much finding them and my partner operation as the cash/credit end of the group. I would think it has to be setup so that I can sign whatever need be (deeds/closing docs), etc.
I read where I can set this up myself as long as the paperwork is done correctly. Is this true?
Thanks in advance.
Suntzu18
Check out these sites...
http://www.sos.state.ga.us/corporations/
http://www.smallbizincorporator.com/