Posted by Rob FL on August 22, 1999 at 22:06:48:
If you have any investment properties, it would be wise to limit your liability. Corporations and LLCs usually only cost $100-300 in start up fees and about the same in annual fees. It is well worth the liability protection at least in my eyes. Generally, LLCs are pass through entities so there would be no additional federal income tax.
REal Estate Business - Posted by M.Cornelius
Posted by M.Cornelius on August 22, 1999 at 20:47:37:
Help, Help. I am trying to decide if I should set up a small business with the investment properties I have. My concern is that the government will just take more taxes( business taxes) than any gain I would receive from the business.
Should I set up a small business or not. Comments would be greatly appreciated.