L.L.C. or Inc. ? PLEASE Clarify! - Posted by Nick Dercks

Posted by William Cain on July 16, 2001 at 08:55:36:

It all depends on what you want to do. It like a double edged sword, if you form an Corporation then you open yourself up to double taxation, much more legal fees, and extreme complexity to get it set up. On the other hand there are very good tax benefits, limited liability, and these are easily transferable businesses.
Actually if you have a partnership an LLC is advisable in the fact that neither partner is personally liable for the debts of the company. A LLC is much easier to set up than a corporation but the annual fees are higher. You are true in the fact that a general partnership does have more case law which makes it much easier to know right from wrong, but it doesn’t offer any protection. Since I don’t know the scope of your business or the details I can’t say what is best for you, but this is a few points of understanding about each type of company.

L.L.C. or Inc. ? PLEASE Clarify! - Posted by Nick Dercks

Posted by Nick Dercks on July 13, 2001 at 13:51:49:

I have been researching and planning for the past 14 months on investing my capitol in real estate. The one question and the only thing that’s holding me back is whether I should form a Limited Liability Company, or a Corporation that umbrellas a general partnership. I have heard that an LLC covers the same as Corp/GP only the paper work is less as well as the hassle. However I have also heard that in real estate a general partnership is the smarter move because it contains more case law regrarding real estate investing since it has existed far longer than an LLC. Any help or direction will be greatly appreciated.
Thank you,

Nick