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Updated almost 11 years ago,
llc , gp, or c-corp??? I'll start flipping houses with 3 other partners what's the best way to set this up?
we will be equal partners all initially investing the same amount of money. I was thinking of going the GP route since we will all be managing the daily operations of the business in one way or another. but I would like to hear from someone who is more experienced. The business is just for flips, we all are married with salaries in the 60-70k a year range each if that matters.
What is the best way to set this up if we want to minimize our taxes due at the end of the year?
We do NOT plan to pull the profits out. They will be reinvested into the business.
thanks in advance for you guy's help.