Posted by Gary (WA) on December 22, 2002 at 02:54:06:
It all boils down to the type of transactions you will be doing. Some will also tell you, “No money, No Problem”, which obviously gets nothing answered. Bill Bronchick, has some outstanding posts on this site that may help you out. Additionally if you go to wsradio.ws, then go to the “real estate” section, then the “archives” got the 8-19 show. It has David Finkel, with Diane Kennedy talking about just this. Additionaly if you listen to the other shows you may find what you are looking for. Hope it helps.
Posted by pharmboy on December 21, 2002 at 20:43:32:
We are excited about trying some of the fantastic ideas described on this site. We expect to eventually form multiple entities, but thought the best to start with was a C corp, since we would not be starting with rentals. We have not actually transacted any real business, so it may have no impact on 2002 taxes, but it seems that if the business were entitled to purchase some used equipment (from us) then there might be an advantage to forming it before 12/31. We tried calling USTAXAID, from the reference on Richdad.com, but their phone is disconnected. Seemed like a bad sign. Anyone have any feedback on them? At our level of inexperience, it seemed like Diane Kennedy was overkill, but if any newbies have used her and felt otherwise we would love to hear from them. Any referrals for the Portland OR area? Thanks to all for an incredible site!