Wanting to buy some rental properties for income and investment. What legal structure should I use for protection from my personal life and have tax advantages and deductions.
I think a 'C' corporation is the best avenue. I'm not a tax expert but I do think the 'C' corporation is a great way to distance your personal assets from your business liabilities. That's the route I chose. So far, I've been satisfied with the protection it affords me.
We hold all of our rental properties in LLCs. We also have a general liability policy to cover us in case a tenant falls and breaks something on our property or anything else happens where we could get sued.
Business.gov's Business Incorporation resources can help you decide what type of business entity fits your business needs, including personal liability protection.
Are there any real estate/tax experts who can offer their two cents?
984profits | Creator | 4/26/2010 - 1:48 am
chatton | Window Shopper | 4/7/2009 - 10:13 pm
NicoleD | Former Moderator | 3/31/2009 - 1:31 pm
Join The Discussion
You must be logged in to join the discussion. If you already have an SBA Community account, Log In to join the discussion.
New users, Register for a new account and join the conversation today!