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Updated about 4 years ago on . Most recent reply

Nicholas Stolfa Ryder's profile image
Nicholas Stolfa Ryder's profile image
Nicholas Stolfa Ryder
  • Realtor
  • from Ronkonkoma, NY
  • Member since Oct 27, 2020
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Nicholas Stolfa Ryder's profile image
Nicholas Stolfa Ryder's profile image
Nicholas Stolfa Ryder
  • Realtor
  • from Ronkonkoma, NY
  • Member since Oct 27, 2020
Connect
Nicholas Stolfa Ryder
  • Realtor
  • Ronkonkoma, NY
7
Votes |
18
Posts
Tax, SDIRAs & Cost Segregation

What tax election do I pick for my LLC for real estate

Nicholas Stolfa Ryder
  • Realtor
  • Ronkonkoma, NY
Posted

I started an LLC for my wholesale business and later for when I acquire rentals, what federal tax election should I pick, a sole proprietor or corporation? I'm the only person in the company

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Jake Hottenrott's profile image
Jake Hottenrott's profile image
Jake Hottenrott
  • CPA
  • from Belleville, IL
  • Member since Jan 10, 2014
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Jake Hottenrott's profile image
Jake Hottenrott's profile image
Jake Hottenrott
  • CPA
  • from Belleville, IL
  • Member since Jan 10, 2014
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Jake Hottenrott
  • CPA
  • Belleville, IL
269
Votes |
255
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Jake Hottenrott
  • CPA
  • Belleville, IL
Replied

@Nicholas Stolfa Ryder - you don’t pick anything.  You talk to your attorney and your CPA and let them guide you.  Pay pros to do pro things.  Its the fastest way to wealth.

  • Jake Hottenrott
    • 2 Votes
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