All Forum Posts by: Amy Solomon

Does an S-corp protect personal assets? I am starting my business (moving from a hobby) and I"d like to purchase and sell the properties (flipping) under an incorporated business. But I want to make sure I am protected personally.

Our old business was an s-corp. We were hit hard having to pay taxes on the $100,000 in the business acount on Dec. 31st, even though it all got paid out to cover insurances and other renewels on Jan 5th. So we had to pay taxes on that $100,000 as if we had made $100,000, but we hadn't made it, and never saw it. Does anyone know anything more about this?

Thank you everyone for a warm welcome, quick replies, and selfless support. I can see this is going to be a GREAT community to be a part of. In my past companies, (network marketing), I became the top producer nationwide and always gave my time to teach and mentor others without financial benefit. I just had the philosophy of what goes around comes around and I hoped others would pay it forward. I dedicated myself to helping others but so many people don't share that same mind set. I'm glad today to find myself amongst others who do.

:-) AMY

Good afternoon all! I have decide to stop sitting around waiting for a winning lottery ticket to start my dreams of a real estate investment firm, and just get off my tush and make it happen no matter what!

I've come across REIA, Real Estate Investors Association. Is this a worth while association to join for $300 a year? It looks like I can learn a lot from their events and networking opportunities, I'm not a complete novice though furthering my education is important to me.

Are you a member? Please share your experience.

THANKS! :-)