In-Person: (A) Best Business Structure for Realtors…Save Money and Avoid Common Pitfalls!

As a real estate agent, you always want to be sure you’re handling your business in the most cost-efficient way possible, and that means ensuring you’ve chosen the right legal entity. Beyond legal considerations, you need to know what your tax responsibilities and liabilities will be. The type of real estate business structure you choose matters for your ongoing accounting tasks and business taxes each year – but what’s the difference?

• What is a sole proprietorship (Schedule C), an LLC, a PA, an S Corporation?
• When does it make sense to establish an entity?
• What is the process of setting up an entity, step by step, and what are some common avoidable mistakes?
• How do I take money out of an entity and what is “reasonable compensation (payroll)?