Corporation for Flipping?

[Kevin Fletcher]

I am trying to find the best way to set up my flipping business. I'm starting small but I want to plan ahead, so I'm prepared to take the next steps easier. I have heard that an S Corporation may be a good option for tax reasons. Does anyone have experience with starting one of these? Do you have some tips, tricks and need to know's? Thank you

[Robert Musallam]

@Kevin Fletcher My brother and I are starting a flipping business so I actually just sat down with a CPA and they confirmed a lot of what I've read on BP, including what @Corey Gentry mentioned, that an LLC taxed as an S-Corp is best for me. She did mention that if I was doing this alone I may not need to go that route. So your situation may not necessarily require it.

Hope that helps and best of luck to you!