Terminology Tuesday – Loan-Out
A loan-out is a personal company & legal business entity. The individual, YOU, are technically employed by your own loan-out company. Loan-out companies can take many different forms such as an LLC, an S-Corporation, or a C-Corporation. ᴡʜʏ ʙᴇᴄᴏᴍᴇ ɪɴᴄᴏʀᴘᴏʀᴀᴛᴇᴅ? There are a few benefits: 💰 Lower tax rates. While individuals are taxed on a sliding scale according to their earnings, corps are usually taxed a flat fee. The savings can be …