I'm starting my Purchase Rehab Business with my future wife and i just wanted to no which way to go on this. Is LLC better or Incorporated i just want to no which is better for our taxes. Please HELP out. Thank You all who Responsed to this message

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LLC could be considered better if your yard-stick is taxes because  LLC has more flexibility regarding its tax-entity unlike an INC. A corporation's profit is taxed once (corporate tax), and the dividends its shareholders receive is then taxed again (individual tax); that is, an INC has double tax implications.

Whereas for an LLC, no matter its structure or organization, can choose how it wants to be taxed. By default, an LLC is treated as a "pass-through" entity (single taxation), but can elect to be taxed as a C-corp or an S-corp (if it qualifies).

I hope you find this informative!

 

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Thank you.

Nancy

 

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