LLC vs. Corporation, book keeping

[Ruben Garcia]

Hello, 

Any recommendations on who I can chat with regarding creating LLC for out of state rental property I purchased. Benefits of LLC, s-corp, etc. Also how I can prep for next years taxes. Thank you

[Jori Anderson]

Hi Ruben, 

It's nice to meet you!

Congrats on growing your real estate portfolio. I have some information regarding LLC's, asset protection, and how this can affect you as you grow your portfolio.

At Carter Street Financial Solutions, I work with real estate investors to help them create more generational wealth by making bookkeeping easy so you're ready to maximize tax benefits.  And I say that to say this, I work on the offensive side on how to save money, have real-time data with your finances, create financial plans, and minimize tax. I'm not an attorney so I can't help you on the defensive side to guide you in the direction of how to protect your assets. 

I'm not sure how many rental properties you have right now, but I think you'll find great benefit from listening to Bigger Pockets Podcast episode 595 "How to Layer Legal Protection So Lawsuits Won't Touch Your Wealth w/ Brian Bradley, Esq."  

And if you're interested in speaking with an attorney in my network I'd be happy to connect you. 

Talk soon, 

Jori