California | Credit and Debt Law
2/26/08, 11:31 am
Legal Question
electing to file llc tax as a 'C' CORP. Is this safer for asset protection?
I have been advised by my cpa to file taxes for a single owner LLC as a C CORP. Then, I would elect as a subchapter S, to pass through the losses. This is a real estate holding vehicle. Would this way of filing taxes improve my asset protection strategy ? The idea, is that the asset of the llc is separated from the personal assets. Please advise any thoughts on this concept. Thank you
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Read More Answered By: Carl Starrett |
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