MATTB...please - Posted by sls

import · March 30, 2000, 9:42am

Posted by Sheik on March 30, 2000 at 15:04:16:

Generally speaking LLCs are ‘pass thru’ entities. As a result income will be taxed at your personal rate which is most likely higher that the corporate 15% rate (up to $50K).

Given this, active income are better done through C-corps.

However, in NYS you can elect that your LLC be taxed as a C corp if you so wish.

check out
www.dos.state.ny.us/corp/corpwww.html
for more info.

Sheik

import · March 30, 2000, 9:42am

MATTB…please - Posted by sls

Posted by sls on March 30, 2000 at 10:42:56:

I saw your lease options FAQ post below and would very much appreciate an e-mail of your L/O letter also. (vvss@mindspring.com)
Since the post was down the page, I didn’t want to take the chance of you not seeing my plead.
Thanks so much.

import · March 31, 2000, 7:42am

ME TOO!!! Thanks (nt) - Posted by Glenn-OH

Posted by Glenn-OH on March 31, 2000 at 08:42:14:

nt

import · March 30, 2000, 9:45am

Re: MATTB…please - Posted by Matt B

Posted by Matt B on March 30, 2000 at 10:45:22:

No problem, it’s on its way.

import · March 31, 2000, 8:45pm

Re: MATTB…please - Posted by Dan(FL)

Posted by Dan(FL) on March 31, 2000 at 21:45:38:

I would appreciate an e-mailed copy also. It sounds like it will be helpful.
Thanks.

import · March 30, 2000, 6:26pm

Re: MATTB…please - Posted by jay

Posted by jay on March 30, 2000 at 19:26:04:

please email me a copy also.

thanks!!

import · March 30, 2000, 11:56am

Re: MATTB…please - Posted by Ronnie

Posted by Ronnie on March 30, 2000 at 12:56:17:

Matt, please send me one too.

Thanks,

Ronnie

import · March 30, 2000, 11:42am

Re: MATTB…please - Posted by Ann

Posted by Ann on March 30, 2000 at 12:42:49:

Please e-mail to me as well. Thanks

import · March 30, 2000, 10:08am

Re: MATTB…please - Posted by Rob FL

Posted by Rob FL on March 30, 2000 at 11:08:08:

Matt could you send one to me as well. Your FAQ is very impressive.

import · March 30, 2000, 9:57am

Re: MATTB…please - Posted by sls

Posted by sls on March 30, 2000 at 10:57:50:

Wow…thanks for the quick response.
I’m curious as to your PA Home Solutions, Inc. in your question and answers post. I would assume you are buying or leasing your properties in a C corp?
I’m about to set up a LLC for lease option transactions. Do you feel the LLC works as well for the L/O’s?

import · March 30, 2000, 10:06am

Re: MATTB…please - Posted by Matt B

Posted by Matt B on March 30, 2000 at 11:06:32:

Yes, I think an LLC would work well for L/Os. I set up my business as a C corporation to allow for future growth like setting up benefits packages, hiring employees, etc. I also was looking at simply buying, rehabbing, and selling or simply flipping when I set up my corporation, which is another reason that I went with a C.

import · March 31, 2000, 3:29pm

Re: MATTB…please - Posted by MilNC

Posted by MilNC on March 31, 2000 at 16:29:10:

Me too on the L/O FAQ’s.
Thanks.

import · March 30, 2000, 2:29pm

Re: MATTB…please - Posted by J Fox

Posted by J Fox on March 30, 2000 at 15:29:17:

Matt, Please add my name to the list of those who want a copy of the Buyer’s L/O FAQ letter. Thanks for your willingness to share.
JFox

import · March 30, 2000, 1:33pm

can I get a copy too - Posted by Len(NYC)

Posted by Len(NYC) on March 30, 2000 at 14:33:12:

also can you let me know why you couldnt do the rehabbing, and selling under an LLC, whats the disadvantage?

import · March 30, 2000, 12:29pm

Re: MATTB…please - Posted by Jim (Alaska)

Posted by Jim (Alaska) on March 30, 2000 at 13:29:14:

Could you send me one also, I would appreciate it.

Thanks, Jim