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Incorporate the Business |
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The differences between Inc. and a LLC? I have been advised to first Incorporate my new Real Estate Business, be able to deduct all expenses, even college, and then when have a property to rent begin an LLC. I am assuming this protects the Inc. from possible lawsuits from renters.
What is the best answer? As mentioned, I am a new business just getting off the ground. I am trying to make an educated decision regarding the protection of myself and family.
Thanks, Julie |
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Julie, at the start of a buisness you should have your own CPA and lawyer, and those are the people to tell you what's best for your particular circumstances, from a legal and an income-tax point of view. I wish you good luck.
p.s. An LLC is a form of incorporation. |
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Edith
Originally published on September 5, 2007 |
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