Here’s how to make sure you’re using the correct legal entity for you.
Today we’d like to share a clip from a strategy meeting we held on legal structures. You’ve probably heard of things like LLCs, but do you know how these entities interact with real estate? You need to make sure you are not liable, so we want to explain how real estate and legal entities intersect.
You can watch the full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — The three big types of legal structures
1:01 — Explaining LLCs, S-Corps, and DBAs
1:44 — Most people start with DBAs, but this carries the most risk
2:29 — The tax benefits of S-Corps
4:14 — S-Corps come with administrative costs
4:56 — How your legal entity impacts your gross profit
5:54 — Wrapping things up
If you have questions about today’s topic or anything else, please call or email us. We are always willing to help.