Posted by Keith on December 22, 1998 at 08:05:24:
I am from Dallas. I am unsure what a Lonnie deal is
because I have not studied that course. I can tell
you about Inc. or L.L.C’s, however. I have my
Let this be a good rule of thumb:
Go for a Corporation if you have active investments
(i.e. if you are doing flips and Lease/Options).
Go for L.L.C.'s if you have inactive investments
(i.e. Rental Properties).
Third choice is by Bronchick’s course on either or…
Just buy the $99 book … that’s all you will need.
These books are great for jump starting your
P.S. And in Texas we are faced with a francise tax that
is additional to the Federal tax. You are
not taxed during the first year, however. You
will need to call the Austin Filing Division to
get the paperwork and find out the francise tax
rates. Their number is 512-463-5555.
Hope that helps!