Forming and LLC or S-Corp

[Kearan Tolles]

I recently became a real estate agent and have been hearing a lot about having to put money aside for taxes at the end of the year.  

I have been trying to learn more about forming an LLC and funneling my business through that or possibly filing as an S-Corp.

I know there are different rules and and allowances between each option, but was unsure on how I would go about setting myself up to being in the best position come tax season.  

Opinions ? 

[Aaron Zimmerman]

You should form the LLC and if you have enough income during the year, then convert over to an s corp. I would recommend discussing with a cpa on timing as well as going over the requirements of being an s corp. the s corp can save a lot of money for operating businesses such as realtors but timing is key