Notes

Carol Klock Realtor PA Company Profile - Coral Gables, FL

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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://papiphotos.remax-im.com/Person/102100809/MainPhoto/MainPhoto_orig.jpg" alt="Sandra Kingman PA, Real Estate Agent in South Florida - Compass"><span style="display:none" itemprop="caption">Laetitia AHenegan PA - Florida Realtor® &amp; Bonded Notary Public - Alignable</span>
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<p class="p__0">Also, if you are questioning what a K-1 is, think of it as a W-2 released by an employer to report the employee's earnings on their individual income tax return. Lastly, it is extremely uncommon that I would ever advise that an independent professional, such as a realty agent or Realtor, form a multi-member (P) LLC.</p>
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<p class="p__1">In order to have the (P) LLC taxed as an S or C Corporation you will finish documentation and file it with the Irs (Internal Revenue Service), not with the State in which you formed your (P) LLC. Why would I want my (P) LLC dealt with as an S or C Corporation. The details of why you would desire your (P) LLC treated as an S Corporation are beyond the scope of this post, however, the primary factor is to conserve cash on self-employment taxes (Social Security and Medicare aka FICA).</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://ap.rdcpix.com/1961151379/df80261706272ff8c54681b25844ba2fg-c0od-w1024_h768_q100.jpg" alt="Sandra Kingman PA, Real Estate Agent in South Florida - Compass"><span style="display:none" itemprop="caption">Avi Dori P.A., REALTOR., 3315 Oak Dr, Hollywood, FL 33021, USA</span>
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<p class="p__2">I am defining earnings as your commissions/revenue minus your expenses such as advertising and mileage. Up until then, your single-member LLC is finest left as being treated as a sole proprietorship for tax purposes. This is why the (P) LLC is so popular it can be taxed as a sole proprietorship to begin, and as soon as you've crossed the $40,000 revenue limit, you can make the S Corporation election.</p>
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<p class="p__3">Basically, if your (P) LLC was going to raise capital by ending up being a publicly traded company, such as Amazon, you would make the C Corporation election. What is a P.A./ Corporation (from a Legal Viewpoint)? A Corporation is a business structure produced by state law that offers limited liability defense from its owner( s), which are called investors.</p>
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<p class="p__4">For instance, if your Corporation is taken legal action against (and you have actually kept your Corporation appropriately) your individual possessions such as your home, autos, checking account may be protected. This layer of protection is often referred to as the "corporate veil". Please keep in mind that because the Corporation company structure is produced by state law (instead of federal law), the defense managed to the Corporation will differ by state and consulting with a service attorney within your state is suggested.</p>
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<p class="p__5">represent Expert Association. Almost all states need you to form a P.A. (instead of a Corporation) when you are a licensed expert (e. g. a Realty Representative, Lawyer, Certified Public Accountant, and so on). Research It Here .A. belongs to the PLLC. Non-licensed people form LLCs and certified people form PLLCs. What is a P.A.</p>
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