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All Forum Posts by: Jeffrey Bibby

Jeffrey Bibby has started 0 posts and replied 22 times.

Tax, SDIRAs & Cost Segregation

Post: Advantages of an LLC vs. S-Corp?

Jeffrey BibbyPosted
  • CPA, EA
  • North Providence, RI
  • Posts 22
  • Votes 10

Active income through an LLC taxed as an S-Corp is best because as long as you take reasonable compensation through payroll the remainder of the profit can be taken as distribution which relieves you of the 15.3% FICA/Medicare Tax. Your passive income should be run through an LLC taxed as a partnership or if SMLLC on your Sched E of your personal return as no reasonable compensation is needed and all income will run passive with no FICA/Medicare tax at all.

0 Votes
Rhode Island Real Estate Q&A Discussion Forum

Post: Providence/Pawtucket Property Managers

Jeffrey BibbyPosted
  • CPA, EA
  • North Providence, RI
  • Posts 22
  • Votes 10

Hi Erin,

I have a multi family in Pawtucket also.. welcome to the neighborhood!

0 Votes