One of the most common questions I get is about which entity to use for an investment or a business. The best answer to this question is to sit down with your tax advisor and develop a comprehensive, long-term tax and asset protection strategy. This will allow you to maximize your tax savings while protecting yourself against lawsuits. For more information about ProVision Tax Strategies, visit our website at www.provisionwealth.com or call us at 866.467.5809.
One of our students asks the specific question about his investment entity as follows:
Q: I’ve just signed up with the Rich Dad Poor Dad co and looking forward to moving on my training. I am also interested in getting the proper corporation set up as well. I know some prefer LLC’s while others like Sub S. Can you direct me toward the proper direction I should go in setting up a corp. for a real estate investment company? KC
A: Which entity to set up depends on the facts of your situation. If I were your tax advisor, I would want to know what state you are in, how long you plan on holding your properties, what type of property you plan on acquiring and how much property you plan on acquiring. We discuss entities in our Rich Dad training course, Tax and Asset Protection. Be sure to sign up for this class and join us soon.
Warmest regards,
Tom