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S Corp v. Sole Proprietorship
I am going to open my own real estate firm in the very near future. I'm fairly indigent right now, and certainly can't afford to consult a tax attorney. Sole proprietorship sounds good, because it's easy to set up, and as a broker you are always personally liable for what you do anyway. A friend advised me that there might be some big tax advantages to starting an S Corp instead. He told me I wouldn't have to consult an attorney, and could set it up on the internet for as little as $125.
Looking for advice here.... Thanks for any suggestions.
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