Agent as LLC?

[Jordan Caroleo]

Hello all,

This is my first post on the BP forums. I'm a long time blog reader and I'm just getting started with my own real estate "soon-to-be empire."

I passed my pre-sales exam and received my license a few months ago. Prior to which, I, along with close family and friends, have been acquiring properties for long-term investing and rentals around the NY & LI area as an "undefined" syndicate. This is done under an LLC which ownership equally distributed.

Getting to my question...

As I'm going to become and agent under a brokerage (which I wont mention) should I incorporate myself and defer all earnings from my agent-related business to an LLC? S-Corp? Etc?

Is this possible? Pros? Cons? Tax incentives? Insurance?

Thank you all for your time. I'm looking forward to contributing and becoming a firm member of the community.

[J Scott]

Assuming you have an indepedent contractor (as opposed to employee) relationship with your broker, you will be paid via 1099, and it doesn't matter if you take that income as an individual/sole proprietor, LLC/partnership, corporation, etc.

You should speak with a tax professional to determine how best to receive the income based upon your overall tax/financial situation.