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All Forum Posts by: Neesie Gomez

Neesie Gomez has started 1 posts and replied 5 times.

Post: Advice for setting up LLC in Ga

Neesie GomezPosted
  • New to Real Estate
  • Georgia
  • Posts 6
  • Votes 1

@Maya Teague that is so helpful! With that information, it makes sense to just simply just set up the LLC right now. Thank you!

Post: Advice for setting up LLC in Ga

Neesie GomezPosted
  • New to Real Estate
  • Georgia
  • Posts 6
  • Votes 1
Quote from @Henry Clark:

A.   Who told you to do an S Corp? Ask them again about the downsides. 
B. Use your local attorney to set up your LLC. Make them the registers agent

C.  Operating Agreement.  This is the meat of the discussion. Use the magnifying glass and lookup my name and operating agreement. 


 No one has told me to use an S-corp, just all of the research that I've done it seems an S-corp will result in greater tax savings. I know the downsides includes a lot more paperwork, meetings, etc. Thank you for sharing that operating agreement, very helpful!

Post: Advice for setting up LLC in Ga

Neesie GomezPosted
  • New to Real Estate
  • Georgia
  • Posts 6
  • Votes 1
Quote from @Maya Teague:

@Neesie Gomez @DaVina Williams Love your simple and straight forward answer!

S-corp is only necessary if you plan on having a payroll with lots employees (besides you and your husband). LLCs are easier to file taxes, and can be included with personal taxes if you wish.

I’m an not a tax professional, but this LegalZoom article was very informative: https://www.legalzoom.com/articles/forming-an-llc-for-real-estate-investments-pros-cons

Thank you! I agree that an LLC is much simpler. But if it's set up as an S-corp, it could help you avoid being double taxed through "pass-through" income....but I know it can get complicated lol 

Post: Advice for setting up LLC in Ga

Neesie GomezPosted
  • New to Real Estate
  • Georgia
  • Posts 6
  • Votes 1

Thanks so much for your feedback! I just wasn’t sure if setting it up to be taxed as an S-corp would complicate the process. I will take a look at those sites. Thank you!

Post: Advice for setting up LLC in Ga

Neesie GomezPosted
  • New to Real Estate
  • Georgia
  • Posts 6
  • Votes 1

Hey everyone! I'm new to the bigger pockets community- starting the rookie bootcamp soon & I'm very excited. My husband & I want to set up our LLC, but I really don't know where to start. From what I've read in the forums, most of you advise against using online services such as legalzoom, or even setting it up on your own. Any recommendations on a particular attorney that has helped you in the past? Or advice on finding how to find a gooda local one? Is it as straightforward as googling them and choosing based on reviews or is there anything in particular I should be looking for? Thanks in advance!