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Updated about 6 years ago on . Most recent reply

User Stats

51
Posts
9
Votes
Taylor Smith
  • Rental Property Investor
  • Seattle, WA
9
Votes |
51
Posts

LLC, S Corp, C Corp entity

Taylor Smith
  • Rental Property Investor
  • Seattle, WA
Posted
So I’m looking start my business entity but I’m unsure exactly how I should do. I’m writing to find out from seasoned investors about there opinion. I’m hearing a lot of things about Wyoming LLC or S Corp or C Corp. I live in Washington State. I love how the Wyoming LLC is built, but I see on there that if you die the LLC dissolves. I really do like that It has a Anonymous factor. Should I just stick with my current state if I’m living in Washington State?

Most Popular Reply

Account Closed
66
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83
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Account Closed
Replied

@Taylor Smith consult with both a real estate tax advisor AND an attorney. Read Tax Free Wealth by Tom Wheelright for a great explanation of why you should meet with your tax advisor first to determine the best structure for tax strategy and then have that person work with your attorney to ensure the structure is set up correctly. There are tips there that I didn't know... like being able to structure with an LLC but elect to have the LLC taxed as a Corporation. Interesting stuff.

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