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Our Complete Package for Realtors
Limited Liability Company
Limited Liability Company
Limited Liability Company
Formation of LLC to protect you from lawsuits and provide tax advantages
Solo 401k
Limited Liability Company
Limited Liability Company
Investing your profits from the LLC to build your retirement portfolio and reduce tax liability
CPA Consultation
Limited Liability Company
CPA Consultation
1 Hour consultation with CPA to get started on the right track and stay there to reduce taxes
LLC Component
Advantages LLCs Give Real Estate Agents
Aside from limited liability protection, there are many advantages to having an LLC if you are a real estate agent. Some of them include:
- Tax Flexibility. Having an LLC allows you to take the S Corporation election with the IRS, which can save you money on self-employment taxes.
- Low Audit Risk. According to Accounting Today, an LLC with S Corporation election will likely give you a lower risk of being audited. According to them, in 2018 only 0.22% of S Corporations were audited.
- Separating Business and Personal Finances. A big mistake real estate agents often make when starting out is to combine their business finances with their personal finances, such as when they put business expenses on their personal credit card. You can avoid this by having an LLC with a business bank account and thereby lower your chances of personal liability that might occur through the commingling of funds.
- Raising Professional Credibility. Because selling or buying a home is such a large commitment, potential clients will likely want to work with someone they perceive as being a professional. Operating through an LLC can create this perception. Having a business name on a contract or business cards can show that you are a responsible, legitimate business person, and thus you may receive more business.
We'll perform the following:
- File Articles of Formation
- Produce Operating Agreement and Minutes including Banking Resolution
- Obtain Federal Tax ID
Solo 401K Component
Ready to open a 401k but aren’t sure which is the best option for you? A self-directed or solo 401(k) puts your retirement portfolio in your own hands. These retirement accounts allow self-employed investors to increase their retirement savings with access to assets outside of traditional stocks and mutual funds like precious metals, real estate, and much more. Our Solo 401(k) plan is approved by the IRS and designed for business owners who have no full-time employees other than themselves or their spouse.
The Solo 401k plan was authorized by Congress in 2001 with the signing of the Economic Growth and Tax Reconciliation Relief Act (EGTRRA). Although the tax code has been around since 2002, only 2% of Americans are aware of its existence. Survival 401k is here to change that statistic.
Benefits of a Solo 401K
- Total checkbook control. Just write a check when you’re ready to invest!
- No custodial or transaction fees
- Contribute 300% more yearly than with an IRA
- Combine retirement with a spouse under one plan
- $61,000 to $67,500 in tax-deferred savings in 2022
- Alternative investment options (Businesses, private loans, real estate, precious metals, and more.)
All customized Solo 401k plans that are specifically reviewed and approved by the IRS are proprietary. This includes licensing requirements and remaining in compliance. As changes are made to the code each year, as contribution limits change, and as IRS and DOL letter rulings and advisory opinion letters refine retirement law you will need to make sure your Solo 401k plan stays in compliance. Survival 401k is here to help you. Whenever there is a change or the plan requires an amendment, we will do the work for you and send you the necessary forms.
Our Solo 401(k) Plan Establishment Service Includes:
- Solo 401k Adoption Agreement
- Solo 401k Trust Agreement and Basic Plan Document
- Solo 401k Plan Documents (Electronic Version/Hard Copy Version)
- IRS Opinion/Determination Letter
- Beneficiary Designation
- Trustee Appointments
- Successor Trustee Designation
- Entity Type Adoption
- Solo 401k Participant Loan Forms and Procedures
- Transfer/Rollover Forms
- Consultation on opening Bank Account
- Consultation on Rollover/Transfer Process
- Unlimited Phone and Support
- Unlimited Concierge Support
Turnkey Solution with All Inclusive Pricing
Everything you need to start your real estate career the right way. Liability protection, tax reduction and retirement planning.
Annual fee of $200 in the second year for consultation and IRS compliance.