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Updated about 9 years ago,
LLC's - Which provides the most tax benefits?
If I were to form an LLC with a partner, what would be the best route to take as far as tax benefits are concerned. Let's assume our strategy is to focus on the purchasing of distressed properties, fixing them up, and then renting them out, with the occasional flip every so often. Should we be elected to taxed as a partnership or as an S-corp, and why?