I'm in the process of getting my real estate licence . Should i form a LLC as a Real Estate Agent ?
@Adam Rego As usual, it depends. Check with your state laws and broker's policy to see if you can pay commissions to an LLC first. If so, it doesn't hurt to be an LLC, but most people wait until they are making decent money, and then they elect to file as a subchapter S corporation. Talk to a CPA about what is best for you.
I will also advise you to speak to a CPA but,I personally am not doing it this year because I am not going to make enough money for it to make sense.Unless your gross is closer to 6 figures,it’s probably not worth the trouble and expenses.
@Adam Rego If your intent it to isolate personal assets from liability, the first place to start is a strong E&O policy. I pay for a $1M policy for my agents and use Pearl Insurance.