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Updated about 1 year ago,
Business Structure Advice
Hi, I've been a Realtor in TX for 25yrs. I've never formed a business entity and I don't necessarily want the liability of being a broker so I've stayed a sales agent instead. I was closing around 30 transactions per year then took 10yrs off while holding my license and practicing to homeschool my 2 kids. I'm back and wanting to hire a licensed assistant (1099).
1. Do I need to form a business entity to do that?
2. What is the best way/type of business entity to form in my position that gives me the best tax benefit? What does that look like?
My husband and I have 1 investment home of 18yrs. We manage iit and may add 1 more.
Tjanks in advance.
Jess