As an investor and property owner you need to protect your assets and protect yourself from personal liability. Do this by conducting all your business in a separate legal business entity. The more common business structures are Limited Liability Companies (LLC) and Sub-chapter S-Corporations. Consult with tax and legal professionals to set up the right entity that fits your business and investing goals. There are ways to set these entities up yourself directly with the state, but you’ll want to be careful doing this; you don’t want to shoot yourself in the foot by doing it all wrong and getting in trouble down the road. An option might be to use some companies that specialize in setting entities up like legalzoom.com. They are normally easier to work with than approaching an attorney cold and probably less expensive.
Posted by Carter Brown
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