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Updated over 7 years ago,
Best company structure for my situation?
Hello, and thanks in advance for reading!
I am a real estate investor in Central Texas, and have thus far been a Sole Proprietor come tax season. We are starting a new family business constructing, and selling Spec homes as 3 partners. I know I am going to need to meet with a CPA eventually, but I am hoping some of you can provide me with some preliminary knowledge on what the best way to structure the business would be for tax/liability reasons.
There are 3 of us all equal partners that ideally want to just split net profit on each deal equally unless that is a horrible idea tax wise. Should we be looking at an LLC, or other business structure?
Thanks Again!