How have you set up your company

Re: How have you set up your company

I agree - but I had some very savvy business guys tell me to go s-corp and that's what we did (and we are primarily a consulting company as I believe you are). Both have pluses and minuses - I got a good read from this guy's sites:

plained.com/llcplained-scorporations.htm"> http://www.llc plained.com/llcplained-scorporations.htm

plained.com/"> http://www.scorporation plained.com/

We are eventually hoping to sell products and we wanted to shield oursleves if needed, so s-corp status seemed to make sense for us. YMMV.

Re: How have you set up your company

bubbatex;31888 wrote: I agree - but I had some very savvy business guys tell me to go s-corp and that's what we did (and we are primarily a consulting company as I believe you are). Both have pluses and minuses - I got a good read from this guy's sites:

plained.com/llcplained-scorporations.htm"> http://www.llc plained.com/llcplained-scorporations.htm

plained.com/"> http://www.scorporation plained.com/

We are eventually hoping to sell products and we wanted to shield oursleves if needed, so s-corp status seemed to make sense for us. YMMV.

Can you repost using the html tool and call it a different name it is being filtered out

Re: How have you set up your company

that's funny it is blocking the letters s, e, and x and will not let me correct even if the html tool.

it's www.llcs explained.com without the space - same with scorp.

Re: How have you set up your company

My opinion, after talking with several accounts, is depending on the business itself. If you are not planning to make more than 50k the first year; go for a sole proprietor then change over to a LLC or C-Corp. If you plan to make more then either go for a LLC or C-Corp. I would suggest talking with at least two accountants about the benefits of an LLC and a C-Corp. It really helped me in my final choice.

Re: How have you set up your company

syphic - good point. I had 4 people - both business owners and accountants - give me different reasons for each type. We expect to do about $400-500K/yr in consulting and will begin to develop products too later on. C-corp to S-Corp seemed to make the most sense for us - even if it is a little overkill in the beginning.

Re: How have you set up your company

The Limited Liability Company, has in recent years become the most popular legal structure for small businesses wishing to incorporate.You may find that someone doesn't want to be a part of it once they know the whole deal, or perhaps that you need to bring someone else in. Work it out in advance.

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Re: How have you set up your company

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