Question for you brokers...
Have you set yourself up as a company to receive your commissions?  What are the pros and cons..

Go.
[{"id": "cr795gs", "text": "I would love to see answers to this. Im trying to decide for myself what to do. ", "replies": [], "depth": 1}, {"id": "cr7aqx6", "text": "Do it when you have something to lose.\n\nNot trying to be glib. But if you make a $1500 commission twice a year and live in a cheap apartment with 2 roommates, you probably aren't worth suing. Once it's a risk when people discover your net worth, form some sort of corporate structure.", "replies": [], "depth": 1}, {"id": "cr7nnb3", "text": "I have. I have a corporation I set up specifically for this. As a licensed individual  broker, I \"sponsor\" the corporation so it is a broker, has own license number etc and operate under it. All commission is paid to my corporation. ", "replies": [{"id": "cr7rpai", "text": "So you don't work for a firm?  You have your license with your \"sponsored\" company?\n\nI work for a large regional firm and don't want the hassle/expense of getting a brokerage license just to run my pay thru.  I was thinking that I would set up an LLC, S-Corp, or other to deposit my checks to, run expenses thru, and only pull out what I need for income.  All to lower my taxable income, streamline expenses and write-offs, etc.   ", "replies": [], "depth": 2}], "depth": 1}, {"id": "cr83ykz", "text": "My state might be different, but I hold a sales person license.  I can form an LLC and have my pay sent through it.  Alternatively I can get a brokers license (need to take a class or whatever, but its negligible requirements, I meet experience etc).\n\nI'd also like to hear about this.  \n\nWe switched accounting procedures the other day and had to reset up direct deposits etc.  Our office admin asked me my LLC's name and tax id and did a bit of a \"wow really?  you are like the only one who doesn't do it that way\" response when I said I didn't have one.  \n\nI'd love for someone to explain this better to me.  Is this all legal liability?  Tax benefits?  Both?", "replies": [{"id": "crbzm0f", "text": "I think taxes mostly. I'd recommend an s-corp over an LLC though. \n\nHaving an s-corp would have saved me about $5k this year in taxes if I had opened one. You'd have to set up some sort of payroll system, though. Outsourcing that might cost $600-$800 a year. \n\nI haven't done it because then you would have to submit quarterly estimated taxes. I prefer putting money into my savings and then writing one check to Uncle Sam on April 15. \n", "replies": [], "depth": 2}], "depth": 1}, {"id": "cr9e7we", "text": "Agent here at a brokerage... set up my own LLC, helps with the taxes... tracking expenses separately and can also provide additional tax advantage if you want to structure a bit more uniquely (Taking a salary from your LLC with bonus can be advantageous) although that probably is only worth the effort if some real fees are coming through. First stop, accountant. Second, quick meeting with attorney to do the paperwork. If you're serious, best to have some pros help on the front end... just like we tell our clients, don't go it your own and stick with your expertise. Hope this helps!", "replies": [], "depth": 1}]