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4871 Palm Coast Pkwy NW Suite 3
Palm Coast, FL

Phone: 386-246-3131
FAX: 386-246-3162

2020-logo-325-2.png

4871 Palm Coast Pkwy NW Suite 3 Palm Coast, FL

Phone: 386-246-3131
FAX: 386-246-3162

Should You Incorporate?

In my classes I teach that as soon as we get our license, we are operating as Sole Proprietors with our Independent Contractors contract under our Broker.

Many have realized that this might not be the best entity to work under. Many sales associates have incorporated themselves. Now you know I am not an attorney, so this information should be checked with your attorney. I will caution you that not many attorneys know the specific law regarding licensees. Here’s the bottom line. You must incorporate in your name as is appears on your real estate license. Either as a PA (which is an S Corporation) or an LLC, or a PLLC. You cannot use a fictitious name and expect your broker to pay you a commission.

You can have your attorney do it or you can go on SunBiz.org and do it yourself. Once you have incorporated with the Department of State, you must change your name on your license with a form sent to the DBPR. Now your Broker can pay your corporation and you may be protected from personal liability under the vail of the corporation. The next thing is to get a checking account and a charge card in the name of the corporation. Your brokers check goes into the account and you pay yourself and expenses from that account. Your accountant will love you come around tax time!

If you would like more information contact me. Remember, you can have a good day or a bad day. It’s your choice. Make good choices.

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Saturday, 04 December 2021

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Giumenta School of Real Estate

4871 Palm Coast Pkwy NW # 2

Palm Coast, FL 32137

 

Phone: 386-246-3131

FAX: 386-246-3162

Giumenta School of Real Estate

4871 Palm Coast Pkwy NW # 2

Palm Coast, FL 32137

 

Phone: 386-246-3131

FAX: 386-246-3162

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