Posted by JOHN K HASLACH, CPA, MST on May 05, 2004 at 08:51:28:
Generally, the entity of choice for owning real estate you intend to keep is an LLC. Depending on your state, there may be state tax issues. Rental real estate income is not subject to the se tax.
LLC - Posted by Brian-IL
Posted by Brian-IL on May 01, 2004 at 19:06:48:
I currently have a business that is a s-corp, I like it do to fact of not dealing with self-employment tax and just getting a paycheck. If i start up a new business for real estate investment i understand a llc can be either a partnership or a corp (s-corp also). Any down fall on having a llc a s-corp status instead of a partnership. there will be two members, my wife and i. thanks in advance.