S Corp or LLC ? - Posted by Dee Jay

import · October 10, 2003, 2:10pm

Posted by Jason on October 10, 2003 at 14:43:15:

It depends on what kind of real estate deals you plan to do and how you want to spend the profit. Drop me an email to Jason@britpensions.com and I can help you.

import · October 10, 2003, 2:10pm

Posted by Dee Jay on October 10, 2003 at 14:10:57:

I currently have an S corp that I have used for my computer business transactions. I am new to REI and I want to use my S corp., however I am reading that an LLC is better.

Can I still have protection using my “S” corp?
What is the difference?

Can anyone please advise?

Thanks

Dee Jay NYC

import · October 13, 2003, 9:27am

Re: S Corp or LLC ? - Posted by William Bronchick

Posted by William Bronchick on October 13, 2003 at 09:27:21:

In most cases, holding rental properties is better suited for an LLC, and flipping properties is better in a corporation. The expense factor is relevant, since LLC requires publication, which can cost several hundred dollars in NY. I would review your particular issues with a CPA or accountant, but suffice it to say, using your S corp for now may be fine. You can file a “trade name” for the corporation for doing the real estate activities.