Financial planning for unmarried DINK real estate agents?
Assuming an unmarried couple who lives together, shares nearly all expenses, and both work as real estate agents who each make apx. $150K/yr but would also like to start in REI, would it be advisable to start an LLC with 50/50 equity?
All commission checks would be deposited into the LLC, paying general operating expenses (home office, cell phones, business vehicles, client entertainment, etc). The company's main purpose would be to buy and/or rehab properties. The main goal of this is to ultimately reduce personal taxable income, acquire company owned assets, and build a nest egg of liquidity to invest in property.
In other words...how would you suggest two 20-somethings with no assets and/or liabilities and decent 1099 incomes structure household income/investing?