We've talked about forming a limited liability company and today's show focuses on whether or not you should use an LLC for investment property as an investor or a flipper. We start off with a crazy story which we hope none of you ever have to personally go through and we then follow it up with a tax and accounting look at how starting a real estate investment LLC can affect your business.
Specifically, we discuss:
– How an LLC affects your tax situation;
– Why some flippers open and close an LLC per flip;
– What the cost implications of partnerships and S-Corps are.
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