Should I start an LLC or S-Corp?

[Bruce Bell]

I am looking to start my business officially but want to do things the right way. I’ve heard suggestions of a couple different options but Not really sure which way I should go.

[Brian Schmelzlen]

Hi Bruce,

The first question isn't what entity to form, but whether you should form an entity at all.  That largely depends upon your personal situation, but in general a new investor can be covered by a very good insurance policy.

If you decide that you should have an entity, what type of entity you form (generally an LLC or S-corp, although there are other options) depends upon what type of investing you are doing and how you want things to work. For example, are you looking at rentals or fix and flippers. I see that you are a flipper, so in most cases an S-corp would make more sense for you.