If you currently operate as a sole proprietorship, it’s well worth it to form an LLC for your real estate business. RealtorsTax makes it easy to establish your LLC and enjoy all of its benefits. We will to take care of obtaining the new set-up, apply for the federal tax ID number, and serve as your Registered Agent which handles license renewals and tax forms so you don’t have to.
LLC Formation and Maintenance: Enjoy Greater Flexibility with Lower Taxes and Liability
Personal Protection
As a sole proprietorship or partnership, you and your business are legally the same entity. This means your business debts are also your personal debts. An LLC is separate from its owners and, therefore, limits your personal liability. While your LLC will be responsible for its own debts, and you could lose the money you invest in your company, your personal assets will be protected.
As a real estate agent, you could be subject to many potential lawsuits ranging from negligence and breach of contract to fair housing violations and misrepresentation. Along with the errors and omissions insurance that your broker provides for you, forming an LLC will provide an essential layer of protection against personal liability.
Tax Savings
We will convert your tax status to S-Corporation with the IRS. With this LLC structure, you’ll only report and pay taxes on your profits when you file your personal income tax return. You won’t have to worry about double taxation or self-employment tax.
Greater Credibility
Trust is a significant part of success in the increasingly competitive and ever-evolving world of real estate. Whether you’re looking for new clients, hope to bring a partner on-board, or need a business loan, an LLC indicates that you’re professional and serious about your business. It’s a simple way to appear more credible in the eyes of clients, vendors, and lenders.
Comprehensive Tax and Financial Services
Silver
$110
/month
- Personal Tax Return
- Review Prior Years
- Deduction Finder/Tax Planning
- Hotline-Buyers/Sellers
- No-Cost IRS Assistance
LLC Set-up/MaintenanceLLC Tax ReturnMortgage Qualifying HelpBudgetingMonthly Review/PlanningRegistered Agent-LLC
Gold
$220
/month
- Personal Tax Return
- Review Prior Years
- Deduction Finder/Tax Planning
- Hotline-Buyers/Sellers
- No-Cost IRS Assistance
- LLC Set-up/Maintenance
- LLC Tax Return
- Mortgage Qualifying Help
BudgetingMonthly Review/PlanningRegistered Agent-LLC
Elite
$330
/month
- Personal Tax Return
- Review Prior Years
- Deduction Finder/Tax Planning
- Hotline-Buyers/Sellers
- No-Cost IRS Assistance
- LLC Set-up/Maintenance
- LLC Tax Return
- Mortgage Qualifying Help
- Budgeting
- Monthly Review/Planning
- Registered Agent-LLC
