Joshua Hess, Real estate marketing in Macon & Warner Robins. (One Dollar Genius)

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Rainmaker
107,564
Anita Allen
Coldwell Banker Residential Real Estate - 850-377-4410 - Pace, FL
Your Realtor for NW Florida, Pace/Milton/Pensacola

Evelyn Epperson, How does having a LLC help you to save on your taxes?  Sounds like something I need to do.

Sep 22, 2015 05:16 AM
Rainmaker
1,602,394
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

It is another veil of protection that helps. Many times the Counts can pierce that veil when there has been a case of gross misconduct, but this can vary from state to state.

Sep 21, 2015 08:31 AM
Ambassador
4,308,044
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Joshua Hess I think it's a good idea to register as an LLC - have a separate business entity/account.

After all, we all are independent business owners.

Sep 21, 2015 05:29 AM
Rainer
214,523
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

Your financial person/CPA can best recommend a set up that fits your needs. 

Sep 21, 2015 05:24 AM
Rainmaker
751,582
Bob Force (REALTOR®)
Century 21 - Redwood Realty - Mount Airy, MD
The FORCE in Maryland Real Estate

Good quesiton that I have given thought to on and off.  Really need to give this more thought.

Sep 21, 2015 02:46 AM
Rainmaker
571,124
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

An LLC can present a little more professional image than just your name. In my case I was also looking for a name that would have better SEO than my personal name. And in the event that someone should come after you, every bit of defense is helpful.

Sep 21, 2015 01:54 AM
Rainer
145,203
Andrzej Niemyjski
Realty One Group - Sun City West, AZ

In my area instead of LLC it needs to be PC (Professional Corporation)

Sep 21, 2015 01:44 AM
Rainmaker
836,855
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Depends on the problem you need to solve.

The nature of the question suggests a solution looking for a problem, in which case, no benefit will be realized.

If however business direction creates new opportunities, challenges or exposure, that would be a problem in need of a solution. Your attorney, perhaps accountant, is the one to consult regarding how a LLC would benefit your business enterprise(s).

Sep 21, 2015 01:36 AM
Rainmaker
1,421,477
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joshua Hess The alternative to an LLC is a C Corp, an S Corp or a sole proprietor. For me I took the LLC approach. No real tax advantages, but it did protect me for keeping my business assets separate from my personal assets. Not a must, but it deserves a discussion with your attorney.

I did have to register with the Real Estate Board as a firm which meant an additional fee plus some additional annual State fees.

Sep 21, 2015 01:29 AM
Rainmaker
212,605
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

I say it really helps to protect you on another level, but some states dont allow it. Others the LLC has be your exact name as in Stefan Winter LLC. Depends on who your states allows to hold a real estate license, can you get it in your LLC name or does it have to be a person.

Sep 21, 2015 01:22 AM
Rainmaker
5,050,614
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Joshua,

Depends on the state.  The State of California does not allow it.  We like the idea of the LLC.  A

Sep 21, 2015 01:06 AM
Rainmaker
714,888
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

I dont know.

Feb 23, 2019 11:42 PM
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4,892,008
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Every business is different, study the types and get some help from a professional

Sep 01, 2018 10:56 PM
Rainmaker
3,615,012
Richard Weeks
Dallas, TX
REALTOR®, Broker

Talk to your CPA or tax attorney to determine what is best for you.

Sep 21, 2015 10:43 PM
Rainmaker
1,157,329
FN LN
Toronto, ON

It depends on the objectives.

Sep 21, 2015 09:26 PM
Rainmaker
2,433,114
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

If you want limited liability, then yes I think it is an excellent choice, and I do have it.

Sep 21, 2015 11:10 AM
Rainmaker
2,575,490
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Limited Liability Company? NO Corporation yes....

Sep 21, 2015 09:19 AM
Rainer
66,214
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

I have a LLC!  When you make good money you will need a LLC to save on your taxes.

Sep 21, 2015 08:42 AM