Corps and Taxes

[Darrell Essex]

Hello all,

I am brand spanking new, motivated and ready to dive off the deep end, but I have a question about starting out. Most posts talk about getting your buyers lists, going to REIA meetings, finding properties and all that great and wonderful stuff, but what about the taxes and should there be any corporate filings? SHould I form an LLC to protect my assets and do I need to put away like 40% to pay off uncle sam?

Thanks in advance for all replies.