C-Corp VS S-Corp for Real Estate Agent; which do you prefer?

[Nash Mittelman]

Hey BP!

I've been facing issues with my current accounting company, so I met with another tax professional who suggested incorporating as a C-corp instead of an S-Corp. I'd love to hear insights from BP CPAs and Real Estate agents about their incorporation choices and the benefits they've experienced with both.

The second tax professional claimed "cost segregation" isn't real and offered to accelerate depreciation on certain systems in my investment properties. My current company quoted $5000 for a cost segregation study, but I found an online solution for $500. It's quite a price gap!

I'm currently using Formations, but it's not meeting my expectations. Any suggestions for a one-stop shop catering to Real Estate Agents? I'd appreciate any advice or recommendations you might have!

THX BP and Happy Holidays! 🎉🎉🎉

_Nash

[Sean O'Keefe]

Quote from @Nash Mittelman:

Hey BP!

I've been facing issues with my current accounting company, so I met with another tax professional who suggested incorporating as a C-corp instead of an S-Corp. I'd love to hear insights from BP CPAs and Real Estate agents about their incorporation choices and the benefits they've experienced with both.

The second tax professional claimed "cost segregation" isn't real and offered to accelerate depreciation on certain systems in my investment properties. My current company quoted $5000 for a cost segregation study, but I found an online solution for $500. It's quite a price gap!

I'm currently using Formations, but it's not meeting my expectations. Any suggestions for a one-stop shop catering to Real Estate Agents? I'd appreciate any advice or recommendations you might have!

THX BP and Happy Holidays! 🎉🎉🎉

_Nash

Most real estate agents structure their entity as S-Corp because it can help to reduce self-employment taxes on non-passive income like commissions.

I’ve seen very few real estate agents with C-Corp since it can lead to double taxation when you pay yourself.

Cost segregations are real. Find a different CPA that understands Real Estate.