If I do rehabs and say make about 100K profit per year, (my husband is on W-2 (makes 30K) and I work but my contract will be over soon and I will be a stay-home mom(I make 30K also)) what type of corporation is better for us, C corp or S corporation? I would like to save in taxes…
thanks a lot!
Why do you think you can make 100K a year?
Do you have a source of investment funds lined up?
Have you created all the marketing materials you need to have your machine bring in enough inventory?
Do you have experience with contractors that do rehab type work?
Have you ever sold a house before?
Many questions need to be addressed before you worry about a choice of entity.
we do the work ourselves.
Yes, we have sold one house before.
and we have 2 houses now, one is almost ready to go on the market
I think, it is a time to set up a business