S Corp as a Real Estate Agent

[Cassidy Burns]

Hi All,

I have a question about LLC's, S Corps, and C Corps.

I work as a real estate agent in Washington DC and want to corporate myself for tax reasons.  What are the guidelines for where I am allowed to start my S Corporation.  Do I have to start it in Washington DC?  Also, what benefits does it have in terms of tax write offs, tax savings, etc.?  

Any advice is greatly appreciated!

[Steve Osowicz]

@Cassidy Burns funny you should mention that, I own an S-Corp of which I am the sole employee and pay myself a salary. Please note *** I will mention I am not an attorney nor a tax professional so I am not giving you advice. *** So you should talk to a tax professional, but I take my salary and I take an owner distribution as the S-Corp is profitable and I am a shareholder. I can write off my employee (me) expenses. So, my wages are taxed by social sec etc., but my distributions as a shareholder are not. 

Also, I have checks (like commission) made out to the S-Corp