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Updated over 5 years ago on . Most recent reply
Entity for Wholesaling
I'm looking to start out with wholesaling. I'm trying desperately to avoid analysis paralysis, but there are a few things I'm not confident about yet. I understand that marketing is one of the first and most important steps, (right?) and so I want to start making promotional material for it.
What has me frozen right now, though, is the entity question. Now, from what I've gathered, an S Corp or an LLC filing as an S Corp is the best move. My question then is, is one better than the other? What are the pros and cons of each? Would love any input from you all!
Thanks!
Most Popular Reply
My LLC is an S-corp. LLC is a state business entity. S-corp is a federal tax status. Mine is for a non-real estate business though. Not sure what s-corp advantages you will be able to enjoy for a wholesaling business. Your best bet is to meet/speak with a CPA to determine if it's worthwhile.