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Updated almost 3 years ago,
Realtor LLC tax question
I'm a realtor in California. I recently filed an LLC to save money on self employment taxes by creating an S Corp. The LLC should be done in around 20 days.
I have two transactions that have just closed and a third one that's pending. One of the commissions has already been sent via ACH transfer to my account from my broker but hasn't delivered yet. The second commission check is in the mail on the way to my broker. The third deal that's pending will close in mid April.
I have several questions. The first is if I'm paid these commissions as an individual before my LLC is created is there any way I can pay my LLC and then report that the commissions were paid to my LLC on my taxes?
The second question is can I have my broker delay paying out the commissions until my LLC is created and I can give them the LLC's 1099? Does it matter that the official close date of the deals were before my LLC was created? I've already asked my broker about possibly delaying the payments and I'm waiting to hear back.