Ebook , by Michael Lantrip
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, by Michael Lantrip
Ebook , by Michael Lantrip
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Product details
File Size: 1843 KB
Print Length: 315 pages
Publisher: Anderson Logan LLC (January 5, 2019)
Publication Date: January 5, 2019
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B07MPQC295
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Amazon Best Sellers Rank:
#81,275 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
Although this book focuses on real estate investing, it's actually a useful primer on the types of business entities available to ALL entrepreneurs in the United States.Through the author's thorough (but concise and easily understandable) discussion about how each structure relates to the endeavor of real estate investing, one can begin to grasp how these options would relate to any other type of business you might have in mind, as well. He covers everything from detailed instructions about how to file for each particular type of business entity to what kinds of tax and insurance liability is connected to each regardless of industry. Then, in each chapter, he delivers on the title promise of laying out the considerations specific to real estate investing through each business form.I appreciate all of the links he provides, many of which are for the tax documents he references (e.g. rental income is passive income to be reported on Schedule E, not as earned income or capital gains).I feel much more informed about business creation in general and those who are genuinely interested in finding out about their own "Best Business Entity for Real Estate Investment" should be able to make that determination with some confidence after reading this book.
Many books have been written on the subject of real estate investing. Although, very few provide the detail and step-by-step instructions for choosing a business entity for investment purposes. Lantrip also supplies the reader with ample definitions coupled with easy to understand/remember examples of LLC, C corp, trusts, and how each of these differ and the tax stipulations and insurance requirements that accompany each unique entity. I highly appreciate the tax information both IRS and state level that are thoroughly explained with examples and links. The book is short and uncomplicated to read and Micheal has a friendly tone woven within the scores of knowledge this book provides. Being a small business owner myself, I certainly gained a lot of knowledge about business entities, taxes, insurance, and real estate investment.
Michael Lantrip's book Your Best Business Entity is a great read for entrepreneurs of any type, and not just real estate investors (despite the title).Yes, the book is geared towards those who are in the land game, but financially adventurous self-starters of any type would seriously benefit from an in-depth examination of the questions he poses in the title.I first became aware of the S-corp tactic for reducing the burden of self-employment tax from reading Rich Dad Poor Dad, but the options get a little more complex when you're trying to maximize your profits and build up some protection from losses.Don't eschew this book if you're an investor of a different type, because any self-employed entrepreneur or solopreneur (or even just those who hold income-producing assets) should study and understand this book.
This book is great! It's really clearly written and laid out, making complex business concepts easy to understand. It is thorough in detailing every single aspect of how best to set up and manage your real estate investing business. I can definitely see this being used as a reference again and again for a business owner and manager. It's sometimes the simple things that are so helpful! Again, not that the concepts are necessarily simple, but the author manages to articulate and display them in a thorough, non-intimidating style.
This book breaks down the different entities in a simple discussion format. Highly recommend!
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