All Forum Posts by: Robert D.

I'm a General Contractor in CA as well. I hold my business in an S Corp. This is because of the pass through structure on taxes. If you are a single employee (you) company, it is the best way to go. You will still have to pay state taxes every year in CA, which is $800 min. on corporations, but that's about it.

Setting up the S Corp is an important step, but maintaining it is even more important. Make sure to stay on top of your paperwork and don't co mingle funds. Laughlin Group is a good company to handle your paperwork compliance the first year. Once you learn the ropes, you can do it yourself.

Thank you all for your comments so far. Brian your business situation is the most like mine. I have been researching for a while. It appears that in CA there cannot be a single member LLC. there are work arounds for it. it is said that LLCs must pay taxes on profits whether or not they are distributed or salaried out. LLC seems the easier way to go. is it true with s corp you pay taxes only on profit leftover after paying all responsibilites? i wonder if the hassle of payroll and paying out quarterly taxes is worth it with s corp...bottom line is im lookin to cover my assets and have the best tax breaks and keep more money available for the business. like i said i am starting out small peanuts and plan on 1099'ing the help. Brian any help will be greatly appreciated. thanks Robert

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Hey all,

i ve gotten a boatload of great information here on this board regarding real estate. Now I dont know where to turn to short of visiting my CPA. which is going to be costly. what im looking for is folks with real life stories/examples/advice.

ok i am a general contractor. i wish to start an s-corporation or LLC. I have no employees, officially at this moment anyhow. Can anyone help, which of the 2 am i better off with? I am a small peanuts business at this time but who knows it may take off one day.

here is what i do know. s-corp is a pass thru entity. taxes are paid on 4-15 every year along with my taxes. LLC same except not so formal/strict. seems like llc is less redtape. HELP

if you had/have a corrp now id like to know if you have any regrets with your form of corp. thanks in advance

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Hey all! Man Ive got to say I love this site! Great job!!
So here's my question. I own 3 properties free and clear. I live in the 3rd property. I will be financing a 4th and will be my residence. This 4th property I will be having a relative purchase on their credit. Ive been wanting to become more active in REI' ing. Im wanting to start protecting my assets. I want to put them behind some kind of veil. Ive read for days on here and I see the census says to go with an LLC. I do have a career job. Come January 2009 I will be starting up a very small construction business that may not do as well as I hoped. With that said, I want to ask you pro's what in your opinion is my best route? LLC or corp?.....thanks in advance!!

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All Forum Posts by: Robert D.

Robert D. has started 19 posts and replied 63 times.

Post: s corp or LLC for business

Post: s corp or LLC for business

Post: To LLc or not