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Updated about 5 years ago,
Should I Incorporate
Hi guys,
I have a question about incorporating. I am new to the real estate and have not bought my first property yet. I have owned several businesses from used car dealerships to computer repair companies. All incorporated as LLC. My newest venture that I'm currently in is wedding photography and that is incorporated as well.
Being new to real estate, and the real estate taxes, I wanted to know should I incorporate now or wait until I do my first deal? The reason I’m thinking about this now is because I know the benefits you get from incorporating instead of doing business as, like a sole proprietor.
The other reason I'm thinking about this now is because of the tax write offs that you get from an LLC. Also with the traveling that I'm planning to do for seminars, looking at new deals in other states, and meeting new people I would like to make sure this is all captured.
Thanks in advance for your time and knowledge.