A Cautionary Tale for Indie Brokers? @HDelux @Diana_Britton @wealth_mgmt

“I’ve seen for far too long—b/d’s and insurance companies urging people to set up an S corp or a limited liability company,” Hamburger said.  “There’s nothing inherently bad about having the S corp or having the LLC,” Hamburger said. “What becomes a problem is when they try to use these entities as a way to recharacterize the income and pay less tax.” I know “so many other people do it this way. It doesn’t necessarily make it right. This is not crowd-based regulation.”

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