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There are various types of dollhouses that one can collect. They can range from old, historical architectural designs up to the latest and modern contemporary homes that we see in cities like Los Angeles, Tokyo, London and Manila. There is no certain type of dollhouse if we try to really think about it. Everything is up to you. It’s pretty much like designing or choosing your own house.

If you’re a beginner to the intriguing world of dollhouse, take some needed time to do some research and preparations before hitting it off. Becoming a knowledgeable collector or hobbyist may make a huge difference in which sort of dollhouse you pick. Try to avoid making decisions based on factors such as price tags or investment value. It should be about what you enjoy the most. It’s about your self-expression.

General Overview

A popular type of dollhouse is the so called Victorian dollhouse. These houses are similar to what you would find in a city like Paris. Usually, these houses are having extensive structures with great features such as a huge front veranda. Decorating a Victorian dollhouse should not be a problem given the many amazing ways by which to do so. It’s not difficult to find internet stores and sites dedicated exclusively to the Victorian style doll house and the various decors that one can obtain for them. It’s also very easy to construct an ideal Victorian house from another age.

Some dollhouse collectors particularly value the classic, homely style of a Tudor hut. This type of doll house represents the English architecture. It has a traditional post fence that provides a family atmosphere or feeling. Facilities like a fireplace or a twisting stairway are common in this type of doll house. Most Tudor huts or cottages are custom-made or personally crafted by the collector. However, there are also readily available products out in the market.

On the other hand, Georgian doll houses are the most popular variety that is made of wood and the one you will always encounter. This type of dollhouse is popular because it is usually big and striking. The Georgian period is commonly associated with the neoclassical style and was greatly influenced by classical architectural designs. The Georgian Dollhouses have three major classification or themes. They are: Greece and Rome, Terraces and Town Houses, and Palladianism and Country Houses.

Palladianism was a school of thought in the area of design based on the works and writings of an architect from Italy who wanted to restore the techniques and designs of olden Roman buildings. Palladian style includes elegance, aesthetic understanding of ornamental elements and the use of order in an art form. A Georgian doll house as opposed to a Victorian house is more organized and orderly in terms of colors, details and overall architectural value.

During the 1700s, the wealthy Westerners began to pour investments into their homes. Country houses started to emerge, consuming vast areas of land for landscaping and parks. If you desire an imposing mansion dolls house, you could take it on a Georgian era. There are quite a few styles of Palladian door obtainable in miniature and you can acquire windows to complement. The fashion of these doors and windows provide Georgian wooden doll houses a very splendid atmosphere.

Finally, one very enjoyable and well-liked dollhouse is the Barbie dollhouse. By the name itself, it is made particularly for Barbies. It gives so much fun for children who enjoy Barbie and her many accessories. There is an unlimited array of things to put inside a Barbie dollhouse. From furniture like sofa sets and beds to soap and dishes, creating a Barbie dream home and a Barbie dream personality has become entertaining for females (and even males) of all ages. Since it doesn’t always have to be for the kids, playing with a Barbie house makes collections so cool. This hobby becomes timeless and irrelevant of age.

Dollhouses made for miniatures are more and more becoming popular. There are even museums devoted to miniatures and dollhouses. Miniatures are little models of standard everyday houses and the things that go inside them. Some people spend so much time and effort to furnish their miniature dollhouses as realistically as possible. Things which are actually everything one can necessitate for daily living can be found for miniature houses.

Regardless of all of the great varieties and amazing types of dollhouses custom-made for collecting, some hobbyists would rather be specially original and innovative by constructing their very own dollhouse. This is the only way to have an exclusive design all your own. It doesn’t really require a lot to construct a dollhouse. Most people start by choosing the type of house. Whether classic architecture or modern designs, it’s all up to you. Planning it out with a draft then getting all the materials needed is the starting point. Helpful tips and guides can be found with a quick search of the web. Whatever type of dollhouse you prefer, it’s important that you enjoy it and you can express yourself through it.

Important Details to Include in a Real Estate Design Template

Real estate agents treat business cards as their lifeline since most of their future buyers come from their encounters from property tours. By taking advantage of the back part of your prints, you can build more detailed real estate business cards to gain more clients.

Before having your professional business card printed, knowing what details to input can strengthen your career and further your chances of breaking deals. Good business cards can pave way to expanding your chances on using more strategies to earn and gain clients and buyers along the way.

1. Schedule: Since your profession is usually by appointment, adding a schedule of your preferred in-house tour and office days can guide your clients and organize your meetings and flow of events.
2. Area of Responsibility: Include the land areas you are selling to help new clients be aware immediately if such area you handle is of their interest or not. This way, you are free of irrelevant inquiries and will not put your time to waste.
3. Basic Price Range: Giving a very general rough draft of the price range you are selling can help clients better evaluate their interests in buying such land or not.
4. Add extra services: If there are other services you offer, sharing this information and including them at the back of your business cards will be very helpful for you to promote yourself further; and for your clients, to find more options while they are into inquiring into such service.

Business cards for real estate, like said earlier, are important to break deals that finding solutions to better promote yourself can be best done through using online printing features such as double-sided print production. Just make sure that your details possess a good layout with the right text-design structure to make your business card more interesting to look at.

As you approach retirement age you may want to think about getting a reverse mortgage loan to supplement your retirement income. After going through a long and tiring life filled with hard work, you may look forward to retiring with a stable and steady stream of income and being able to live off it comfortably. For many Americans, this means income derived from retirement plans, Social Security and any investments they may have made during their working lives.

One of the other most popular and widespread ways of supplementing retirement income is to take out a reverse mortgage on your property. There are many banks and reverse mortgage lenders in the market today that provide reverse mortgages, and the market has become very competitive which makes the programs more beneficial for the customer.

We know we should begin planning for retirement early. To ensure you survive retirement comfortably it is best to plan as early as possible. For many, the best way to enhance your retirement plan is through a Reverse Mortgage. A reverse mortgage is quite simply a way to access the equity in your home to provide you tax free income with no monthly payments. Most importantly senior home owners age 62 or above are federally eligible to apply and qualify for reverse mortgage loans after going through a mandatory counseling process.

There are several options for receiving payout from a reverse mortgage. You can receive fixed, monthly payments for a period of time; get a lump-sum payment; open a line of credit that you can draw against; or you can receive some combination of these options. You don’t have to stick with a payment option forever. You may be able to change your payment option in the future.  The money doesn’t have to be paid back to the lender during the lifetime of the borrower. The principal and interest become payable only when the home owner passes away or moves out of the reverse mortgaged property.

The  additional or extra line of income derived from a reverse mortgage can help put seniors at financial ease and enable them to gain confidence about their social position and spending ability in retirement. The money can be used any way they see fit – be it for travel, vacation, medical expenses, education expenses of grand children, home remodeling, anything!

The additional level of available money from a reverse mortgage offers senior home-owners peace of mind and stability so they can live their pre-retirement lifestyles without any fear of cash deficiency.

Reverse mortgage income is not taxable either; for the government considers it inappropriate to tax you on property you already own .Taken in perspective, reverse mortgages are good as an additional line of income for the senior home-owners looking to improve upon their lifestyles with a more money in their pockets. The homeowner doesn’t pay a mortgage; instead he receives payment from the lender in exchange for a stake in the value of the home. Check how much you can get from your Reverse Mortgage? We’ve helped thousand of senior homeowners solve their financial questions, it’s time we help you.

For FREE reverse mortgage counseling, Give us a call. We will be more than happy to answer any questions that you may have. Or if you’d like to find out how money you qualify for and if you’re eligible, feel free to give us a call at (800)630-0650.
Tim Jacobs
Golden Years Mortgage Solutions
Your Money…When You Need It
www.GoldenYearsMortgageSolutions.com
(800)630-0650
tim@goldenyearsmortgagesolutions.com

Tim Jacobs @ Golden Years Mortgage Solutions www.GoldenYearsMortgageSolutions.com  (800)630-0650 tim@goldenyearsmortgagesolutions.com Golden Years Mortgage Solutions is a reverse mortgage approved FHA Lender. We’ve helped thousands of senior homeowners solve their financial problems. Our agents and brokers collectively have over 60 years of experience in Reverse Mortgage Loans and general financial services, including managers who are industry pioneers with more than 12 years of reverse mortgage experience. Our dedication to providing financial solutions for seniors is evidenced by the number of referrals that come from our existing clients.

Do you often fancy the beautiful and captivating houses? At times we flick through the magazines and get flattered looking at houses with beautiful interiors, the surrounding ambience and everything that makes it attractive and admirable. If you also want to cherish your dream of having a house that would reflect your personality and style sense, there are many house plans designed to give wings to your imagination.

Choosing house plans when you know what you are looking for is easy. At the same time, it is both time consuming as well as overwhelming if you look for house plans that meet your way of life. It is necessary to choose house plans that not only match your requirements but also your building lot. You should consider the landscape and also about future buyers if you wish to sell the house sometimes later.

Let’s brief down a few house plans considerations:

Family Needs and Lifestyle

Every individual and families follow a different lifestyle criteria and needs. A newly wed couple would have a different perspective of house plans than a retired couple. Before deciding on house plans it would be beneficial if you consider these options:

If you are newly married how soon would you start a family and how many children do you wish to have? Make sure to choose house plans that give you the space for expansion when your family grows. Also look for house plans that take guests into consideration and that which provide ample space for elderly parents and grandchildren in future.

Choose house plans that go along with your idea of entertainment. It is important to know whether you need a formal dining room and traditional living room where you can conduct large formal gathering or you can also prefer house plans which support small family get together.

Privacy:

Most people prefer house plans with privacy in the master bedroom and the living room. If privacy is important to you then you should consider house plans with L or U shaped.

Furnishings and Aesthetics:

It is wise to choose house plans that would accommodate your existing furniture, the room should be attuned to your furniture and also consider the feel of the room once you accommodate them.

Mull over the outdoor living:

Both the geographical area and the landscape have a huge impact on the style of the house. Many websites recommend house plans according to your surroundings such as beach house plans, bungalow house plans, cottage house plans, modern house plans and many more.

There are many bespoke and creative house plans available online that can transform your dream into reality with a single click of mouse. Image the satisfaction that you would get building your own abode. So, what are you waiting for! Come live your dreams by choosing the perfect house plans.

Having a separate guest house always comes in handy, when you are packed up with visitors at your house. It can also double up as a weekend home for you and be a place of relaxation. Making your own guest house plans gives you an opportunity to create an extra living space that meets your expectations. The rough plan that you make, inculcating all your expectations, can later be refined by a professional architect. In this article, I share some tips in how to create your own guest house plans.

Designing a guest house is adding more space to your house, which gives you an opportunity to be a gracious host to friends and relatives who visit often. It gives you an opportunity to include all those things which you always wanted to inculcate in your house plan, but couldn’t! Before you start making your own guest house floor plans, you need to have a clear idea about the budget you can afford to allocate it and the dimensions of the piece of land, on which you plan to build it.

This will help you create a plan that is customized to your requirements. People opt for small guest house plans that are generally built on adjoining extra space of land to their houses. Of course you could also be planning to build a guest house which is built farther away and doubles up as a weekend getaway. Of course, you don’t want to make your guest house too comfortable or else, your guests would never plan to leave! Let us see how one can go about creating his own small guest house plans.

Tips on Designing Guest House Plans
Building a guest house is a big construction project and requires very detailed planning. You will need professional help later from an architect, but creating small guest house plans of your own, will help you in conveying your demands to the architect in a better way.

Study Guest House Plans
First thing to do before you begin is, acquaint yourself with the latest architectural trends in guest house plans. Check out architecture devoted magazines for different guest house plans. Visit guest houses built by friends and neighbors. Make a file of design aspects in these various guest house plans that you would like to include in your own guest house plan.

Make List of Amenities
Make a list of features and amenities which you plan to have in your own guest house. Make an exhaustive list of all your expectations from your dream guest house.

Look For Online Guest House Floor Plans
There are many architecture devoted websites, that offer guest house plans of various types and sizes that are planned to suit your needs. You could check out these plans and print out the ones that catch your fancy.

Begin Planning Floor By Floor
Once you have started getting a feel of what you have in mind, the start making a plan taking your budgetary limitations into consideration. Decide on the number of floors, rooms and general layout. Start designing floor by floor. Make sure that you take measurements into consideration everywhere.

Choosing the right financial adviser can be a difficult process.  How can you find a professional with the expertise you need?  Someone you can trust to assist you in planning your financial future.   Where should you start?  What should you look for?

Here are some things you should consider:

your current situation - before meeting a financial planner, get a good idea of where you’re currently at financially.  You might like to use these free online calculators to help you get started: Free Financial Position Calculator  Free Budget Calculator
your goals – What are your financial goals in the short, medium and long term?
what do you want a financial adviser to do for you?  There are lots of options when it comes to financial advice.  Some people just want help with a specfic area of concern (eg divorce), or at a particular life stage (eg retirement).  Other people want to get financial advice in all areas to help them get ahead financially – the choice is yours.

You should take your time and do your research before you choose your financial adviser.  Some things you might like to think about before you decide on one are:

are they properly licensed?  In Australia, financial advisers should be the holder of or authorised under an Australian Financial Services Licence.
do they have appropriate experience?  Are they experienced in all the areas you identified you want financial advice in? 
are they recommended?  Do you know anyone who has had experience with this financial adviser?  Do they come recommended?
how do they charge?  Some advisers receive commissions from product providers.  Others charge the client directly for their time (known as fee for service).  Do you know and are you comfortable with how this adviser charges?  Be aware that financial advisers who charge commissions may have an added conflict of interest as they receive payment when selling you a product
who are they owned by/affiliated with?  Sadly in Australia, the overwhelming majority of financial advisers work for or are affiliated with larger financial institutions and banks.  This poses a problem where many of these groups impose restrictions on the types of products and advice that these financial advisers can offer their clients.  If this concerns you, you should seek out the advice of a financial adviser from a privately owned financial planning firm.  Remember that this information must be disclosed in the Financial Services Guide (FSG) so be sure to read the fineprint.

For more information on how to choose a financial adviser, be sure to download our free ebook Choosing a Financial Planner

If your new home is not ready for your planned relocation date, or you require a temporary solution before finalising your new house purchase, Space can undertake a rental accommodation search amongst all the properties available, not just the few advertised on the internet. We will help locate a suitable, long or short term place for you and your family to live, not an expensive holiday let or a house in an unsafe area.

For this service we charge a fixed fee of R19,850. Our service includes lease checking (all leases are different, depending on the agency) and price/lease negotiation.

The process is very similar to the Home Search Service, and ensures that all quality properties in appropriate areas are reviewed. As with a home purchase, it is difficult to get an honest, independent appraisal of a property from someone who is keen to rent you that particular property. Space will review all the possible localities, from all the agents, and find the right home for you. A detailed brief is taken, and colour brochures are sent to you showing the short-listed properties, which match your criteria. If required, the booking is made in advance of your arrival for you to move into when you reach South Africa. Rental property since early 2007 has become increasingly scarce due to a number of economic factors. For a good sized family home in a nice neighbourhood, it is now likely that a shortlist would regularly consist of properties around R25,000 per month. More and more property is being sourced through personal contacts and private connections than ever before, and much of the property advertised on the web has already been taken. Therefore, it will be useful to be flexible on area and realistic on budget to ensure that you have as wide a choice as possible.

Further examples of rental options:

Fresnaye. 5 ensuite bedroom, modern home with small garden and swimming pool. Excellent security, double garage and open plan living with travertine flooring and under-floor heating plus air conditioning throughout. Asking price 40,000 ZAR per calendar month. Tamboerskloof. Four bedroom family home with study, furnished or unfurnished in a small security complex. Table Mountain, city and harbour views. Small pool and a number of balconies and terraces as well as covered patio. Asking price 36,000 ZAR per calendar month Upper Green Point five bedroom town house style property with sea, stadium and city views. Open plan neat living with small terrace and plunge pool, additional courtyard and large master ensuite bedroom with dressing area. Heating and air-conditioning. Asking price 35,000 ZAR per calendar month. Hout Bay. Five bedroom, three bathroom property in top security estate with extensive valley and mountain views. Open plan living with two undercover entertainment patios, small pool and a small garden. Modern open plan style with TV lounge and central fire place. Monthly rental 35,000 ZAR.

Domain Name Virtual Real Estate Business Can Be Very Lucrative

With the rising inflation further falling U.S. dollar, property prices have escalated really spell the last few dotage. Visit Here now http://commercialrealestate-remax.blogspot.com

This makes investing in whole estate a much more expensive choice. However, by manufacture use of one of the oldest forms of familiarity business, partnerships, one can account the benefits of original estate with submerged little cost to oneself.

When using a limited partnership in dealing with real estate, you must ensure that the legalities are decidedly outlined and along keep secret the plight underneath which the association is adapted. If you cold-shoulder to do so, you might land yourself as well as your personal assets at risk that is if you are the regular partner.This brings us to an important concept; each partnership will hold general members through well as at pristine one brief parcel. span slight line-up avoid risking their personal funds reputation case the hazard fails, they also chuck their appurtenant to participate force the management of the business. Contrarily, general rig are responsible due to the day-to-day deep of the business; however, they may be liable to heap the debts of the troop with their personal assets if the company’s assets are found to stage insufficient.

This threat of such a situation arising might scare novice investors from getting case a partnership where they are the trivial partner. Irregardless of the risk, you should note that partnerships have a pack to offer, after all when has anybody achieved celebration strayed taking a few risks. So to see why partnerships can be very beneficial, deem the following abstract plight; you have manifest a limited partnership with two other people to make a $ 10,000 investment on a $ 100,000 property. Now, based on the specifications of the partnership agreement, you find that you only have to put down 30 percent of the down remuneration. This figure, i.e. $ 3,000, is respective 3 percent of the total value of the property.

Now consider the amount of profit you will make based on such a small investment.Hence, you engagement regard why partnerships are so popular hold real estate, through well as in all walks of life. However, before you jump-the-gun and get into a partnership unprepared, there are a few things you must remember.Firstly, under no case should you start a association without a formal legal agreement ropes place. Even if you plan to partner with someone who is solve to you, such seeing a at ease member or conceivably an old high-school buddy, always, always plan a legal choice. We already rest assured ultra many cases of close-friends or homely members fighting it out string hizzoner belonging because the business went sour and the proper legalities weren’t in place. No investment is worth losing people you love, therefore be as sound as possible when drafting the agreement.

If the agreement is drafted correctly, everybody will know what their role is. Nonetheless, corporeal is advised that each and every partner know exactly what they’re contributing again fresh importantly, what they’re NOT contributing. naught screams inefficiency and trouble more than when a partner tries to do something which he is not supposed to do, thus causing confusion and at times even disruption.Lastly, when choosing to partner with someone, correspond to sure that they have the financial pay to cope if the investment fails. Under no circumstances should you individual curtain someone who is contributing money from the kid’s college finances or peripheral of their emergency fund. This will lead to nullifying perpetual worrying and will also ensure that partners don’t win frustrated if the enterprise doesn’t attend a return immediately.That said, you should since be well on your gate to building a partnership once you’ve found a good investment. Make sure full-dress the points mentioned above have completely sunk in. No build liability guarantee success, but if you follow the principles laid out in this article, you will at the least, imitate emphatic to run a partnership effectively further efficiently.Visit Here now http://commercialrealestate-remax.blogspot.com

“A penny saved is a penny earned”… or so the old proverb goes. Of course, the value of a penny has changed somewhat from the time when your mother offered her wisdom on the value of keeping what you earn. Today, you could save thousands of dollars by simply making the right mortgage decision. If you’re like most Canadian homeowners, your mortgage is a goldmine of potential savings.

In the past few articles, we’ve talked about the importance of your mortgage as one of your most significant financial decisions. We’ve explored the value of seeking the advice of a mortgage professional -whether you’re buying a home or renewing an existing mortgage.

Today, let’s take a look at the bottom line: the savings you can enjoy by making the right mortgage decisions.

It is the primary role of a mortgage broker to find you the right product for your personal situation. A mortgage broker is a financial professional and – like your investment advisor – he or she will want to understand your personal situation and payment preferences. Your mortgage broker has access to a broad spectrum of lending institutions, so you can do some valuable comparison shopping for the right combination of features, rates and mortgage options.

All these choices offer you substantial opportunities to save money over the life of your mortgage.

If you are like most homeowners, you are focused -for good reason – on finding the best possible rate for your mortgage. Your mortgage broker can offer you the best range of rate options and terms. If a mortgage broker can get you one per cent off the posted rate, that could translate into more than ,000 in interest per 0,000 borrowed over a 25-year amortization schedule. If, however, you believe that most mortgage rates are basically the same from one institution to the next, then consider the fact that even an eighth of a point difference in the rate can offer significant savings over the duration of your mortgage.

But it’s also important to look beyond the rate. There are other ways to find savings in your mortgage. Your mortgage broker is up-to-date on market trends and new opportunities… as well as some of the tried-and-true ways to save money in a mortgage.

Do you get an annual bonus in your job? You may want to use that bonus to pay down the principal of your mortgage. If you pursue this strategy consistently over the life of your mortgage, you could save thousands of dollars in interest by paying your mortgage off sooner.

Are you paid bi-weekly or bi-monthly? Consider a change from the usual monthly mortgage payment. Set up your mortgage payment schedule to coincide with your pay period. Again, you can shave years off your mortgage, and enjoy thousands of dollars in savings.

In the coming weeks, we’ll look at some of these savings opportunities in more detail. In the meantime, consider the old penny proverb again. How much is your time worth? Time savings is one of the key, unexpected benefits that clients say they have enjoyed when they choose to work with a mortgage broker. Above all, a mortgage broker is an expert in customer service, and that means that your broker looks after every detail of your mortgage research and negotiations on your behalf.

As a real estate investor it is important to choose a business structure that gives you the maximum asset protection as well as the best tax advantages. Although I can’t advise you as to what type of entity you should structure your company as (you should consult with attorney) I can give you a brief overview of the different types of entities.

Sole Proprietorship. A sole proprietorship is basically a one person company and is simply “you doing business”. There isn’t any filing requirement to start you business using this structure unless you are using a fictitious or trade name. If you a using a fictitious or trade name you must file a “d/b/a” or doing business as with your state, city or locality. The only types of fees associated with being a sole proprietor are the licensing fees that your city or state or locality charges for doing business.

Tax Consequences of a Sole Proprietorship. The income made by a sole proprietorship is income earned by its owner. In addition, as a sole proprietor, you report your income, expenses, profits and losses on schedule “C” on your federal income tax return. This income is subject to a self-employment tax.

Disadvantages of Sole Proprietorship .One of the disadvantages of a sole proprietorship is there is unlimited liability. If you got sued everything you have personally is at risk. There is really nothing shielding your personal assets. If your business goes bankrupt, you must file for personal bankruptcy protection to avoid the business debts.

General Partnership. A general partnership is an entity that is formed with two or more parties. No paperwork needs to be filed to create a partnership. In fact it can be formed with a simple handshake. However, it is better to have a partnership agreement that spells out the terms of the partnership. If there is no partnership agreement then the partnership is governed by state law. The majority of the states in the U.S. have adopted the Uniform Partnership act which consists of a set of rules of how partnerships should act if they don’t have a formal agreement.

Liability of a General Partnership. A general partnership has no liability protection for partners. Partners are jointly liability for any acts of negligence. So whether or not a person in a partnership committed a negligent act he or she is still personally liable for that act.

Tax Consequences of a General Partnership.The general partnership itself doesn’t pay taxes it simply files an I.R.S. 1065 form. This is only an informational form that summarizes income, expenses and profits and losses of the general partnership business.

A general partnership is treated as a “flow through entity” which means that the profits and losses of the partnership “flows through” to the partners who report their share of income or losses on schedule “E” of their personal income tax returns.

The way that this works is that the partnership would send each partner an I.R.S. K-1 form that states their share of the partnership profits or losses.

Limited Partnership. In order to form a limited partnership, the partnership must file a “Certificate of Limited Partnership” with the state in which it is organized. There are two types of partners in a limited partnership. There are the general partner and a limited partner. The general partner controls the day to day operation of the partnership and is liable for all business debt where as a limited partner is not responsible for business debts and/or claims.

Liability of a Limited Partnership. The general partner in a limited partnership have unlimited liability and if a judgment is rendered against the limited partnership and that partnership doesn’t have enough assets to cover the claims, the creditor can go after the general partner’s personal assets. Sounds risky doesn’t it? Well it is!

Now unlike the general partner a limited partner has no liability beyond what they initially invested in the partnership. Creditors can’t go after limited partners for the debts of that limited partnership. In addition, limited partners unlike the general partner are not personally liable for acts committed by the general partner unless they participate in management decisions.

Tax Consequences of a Limited Partnership.A limited partnership is also treated as a “flow through entity” for tax purposes. I must point out to you that in “flow through” entities, the owners pay individual income taxes on all net profits of the business. This is the case whether they receive those net profits or not.

Corporation. A corporation is a business entity that carries its own legal status, separate and distinct from its owners. Its’ primary advantage is to provide owners with limited liability against business claims. A corporation requires a filing of an articles or “certificate” of incorporation with the state. There are two types of corporations “C” corporations and “S” corporations. An “S” corporation status must be elected.

Tax Consequences of a Corporation. A “C” corporation files an IRS form 1120 and pays taxes on its net income. The primary disadvantage of a “C” corporation is double taxation. Profits are taxed first at corporate tax rates and then again at the individual level. when owners receive profits from the corporation in the form of dividends.

An “S” corporation is taxed just like a partnership. It files an information IRS form 1120-S and the profits and losses “flow through” to the shareholders. The S corporation sends each shareholder an IRS K-1 which states the shareholder’s share of profits or losses.

Liability of a Corporation. A corporation provides liability protection for its owners (the shareholders). If the corporation was sued, the owners are not personally liable.

Limited Liability Companies. A limited liability company (or “LLC)” is a hybrid cross between a corporation and a partnership. To form a LLC the requirement is that you must file an “articles of organization” with the state. An LLC is owned by its’ members or partners and it is governed by its operating agreement.

Liability of a Limited Liability Company. A limited liability company provides protection for its’ members. The members are not liable beyond their contributions to the company. If the LLC is not able to meet its’ debts, the members are not liable for these obligations. In addition, if the LLC is sued the members are not personally liable. An LLC can be “member managed” or “manager-managed”

Tax Consequences of LLC. An LLC is also a “flow through” entity and for single member LLC the tax reporting requirements are basic. All you have to do is attach an IRS form Schedule C which is a Profit or Loss from a Business to your Form 1040 individual return. You will also have to file IRS form Schedule SE which is a self-employment tax form. On this schedule you will calculate the amount of self-employment tax owed. This self- employment tax is a combination of Social Security and a Medicare tax .If there are two or more members of LLC, then that LLC generally must file its’ taxes as a partnership.

Like I mentioned previously that requires the LLC to file a form 1065. Income, losses, deductions and credits allocated to each owner for the year are reported on Schedule K of form 1065. A schedule K detail is given to the respective members of the LLC detailing their specific shares of profits and losses. They would then use this information and attach the K-1 to form 1040 of their personal tax return and use it to calculate their personal income tax owed.

Limited Liability Partnerships. LLP’s are a special type of partnership designed to provide individual partners with protection against malpractice by other partners in the business. In some states this is known as a registered LLP, or RLLP. LLP’s are primarily designed for professions such as doctors, lawyers and accountants.

So there you have it, an overview of the different types of business entities in which to choose from. In running your real estate business, it is imperative that you to choose the entity that works best for you. Furthermore, you should also seek the advice of a competent attorney and an accountant before choosing a specific entity.

As a rule of thumb you want the best assessment of the business structure that will allow you to keep a significant amount of income that you made from your deals while minimizing the taxes that you have to pay to Uncle Sam. It makes no sense to make the money as a Real Estate Investor and to give a great deal to the IRS just because you didn’t choose the appropriate business structure.