So, at the beginning of the year part of the action I took was to create an entity for real estate. Sadly, I got some bad advice and created a C-Corp. I have since been told many times that this is a pretty bad entity to hold real estate in (for a buy & hold/rent strategy). At least I took action, but now I'm sitting with this corporation that has done no business, and the end of the year (tax year ends Dec 31) coming up and I'm not sure what to do.
Can anyone think of a reason to keep the entity around if I'm not doing any business with it? Or should I look into having it dissolved and form an LLC?
Ideas welcome.
Can anyone think of a reason to keep the entity around if I'm not doing any business with it? Or should I look into having it dissolved and form an LLC?
Ideas welcome.
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