Relatively new CRE Agent -- Sole Prop + S-Corp or LLC? (CA)
Hi all,

I'm a relatively new commercial agent moving to a new brokerage. I initially signed up as a sole proprietor, but haven't had any deals close yet. Just curious what the best tax setup is here... I've had conflicting advice on LLC vs. sole-proprietor in terms of income level.

Any advice?
[{"id": "dy25ir1", "text": "No expert, but also a CRE agent. \n\nI operate as a sole proprietor, just because it's just me. An LLC would cost a few hundred bucks, but it's all pass\\-through anyway. I just use my agent account for as many expenses as possible, and have a credit card that's only used for \"business expenses\" for stuff I can't run through the brokerage. \n\nThere might be a certain point where you want to do an LLC to run your insurance and car through that for tax purposes, but I'd suggest talking to a CPA first. Take a local \\(or new\\) one out for coffee just to get some advice. \n\nS\\-Corp's are nice because you can avoid self\\-employment tax by being an employee, but I'm sure there are cons about why it would be difficult. ", "replies": [], "depth": 1}]