LLC/ S-Corp to wholesale?
Hello. When wholesaling do you guys recommend identifying the buyer (on the contract) as an LLC, S-Corp or wholesaler's name? I'm just gathering some info before I start my marketing campaign. Thank you in advance.
Most Popular Reply
You can call some of the income dividends and some salary. This saves you 15.3% on the funds you label dividends.
When I say "flip" I'm referring to any transaction where there's a quick turnover of contracts or the actual property.
Also, the S corp would technically be your employer in the eyes of the IRS, eliminating any restrictions on the number of assignments you can do in your state if there is a limit (there is in Wisconsin).
Always check with an attorney in YOUR state to verify everything.
Bottom line is there's tax and legal advantages.