Reply to creating an LLC to purchase condo from myself?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]As a C corp it might make sense, but would increase your costs. Benefit is then limited by your creativity - I.e. take profits and put them into a 401k, put employer match on top, etc[/quote]

Eh. The income would double-taxed. And a 401k plan would have to be administered.[/quote]

Yes, it would, but you can then deduct an awful lot more..... So, yes, you "made $50K" lets say, you go ahead pay out $17,000 to yourself as an employee with 100% 401K match, and then do a $30,000 top off as an employer match. Sure, you'll pay some taxes as a result, but you've then taken nearly $50,000 and put it into a tax-deferred account. You can also setup a deferred compensation trust and put your money in there, thereby lowering both your tax burden and your long-term income potential. Once its set up and running its all fairly straightforward, and a number of a companies offer small business 401k plans administration for relatively small amounts. [/quote]

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