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01-07-2007, 08:18 PM #1
Fixer Upper
- Join Date
- Aug 2006
- Posts
- 18
Getting incorporated
Does anybody know if it is worth forming a corporation as a Realtor or is better to stay an independent contractor.
Thanks
AndySan Luis Obispo Real Estate agent, buying and selling residential real estate in San Luis Obispo County California. For current San Luis Obispo Real Estate News, visit my blog.
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01-07-2007, 08:24 PM #2
Fixer Upper
- Join Date
- Jan 2007
- Location
- Charlotte North Carolina
- Posts
- 32
I think it depends on whether or not you are a broker or under someone else. Also check with your real estate commission, as they tend to have different attitudes on the subject.
If you are a broker, and working directly for yourself then it may make sense to become a S-corporation. A S-corporation allows you to divide your income into earned and non-earned. Your non-earned income is not subject to FICA, which being self-employed, puts it at over 15%.
I'm not an accountant or lawyer, so ignore everything I just wrote and ask one.
ScottRead My Flipping Houses Blog
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Thank you Thank you very much
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