Reale Estate Business - question

[larrybin]

I am currenly involved in purchasing foreclosed homes and repairing/reselling them. Would there be any advantages (tax or otherwise) to establishing a LLC or other type of corporation as opposed to just doing this as a private citizen?

Thanks,
Larry

 

[HomeGuru]

Yes.

 

[larrybin]

Could you give me an idea of what some the benefits are? I plan on talking to my CPA about this but I just wanted to get an idea.

Thanks,
Larry