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Jakerooni · 07-01-09, 03:23

Since your new to this process I will make it as simple as I possibly can

Step 1: Go hire an accountant... Tell them exactly how you plan on conducting business

Step 2: Follow their advice... End of story.

Reasoning is this. I'm personally an LLC. Because at one time I did have employee's and I like the Tax breaks and pass through cash flow the LLC offered me. You may very well do great as a sol prop, maybe a limited partnership is the right course for you. OR your situation calls for an S-corp or C- corp. Only a qualified Accountant will know which situation is best for your own personal needs.

Or you can just ignore good advice and do what 99% of other people tend to do and go down to the courthouse and simply grab a DBA and miss out on all the tax breaks and such...

07-01-09, 03:23	#2 (permalink)
Jakerooni Bright Dynamics Owner Jakerooni is online now Join Date: Jun 2007 Location: Greenville, SC Posts: 2,509 Contact:	Re: Becoming a Legal Business Since your new to this process I will make it as simple as I possibly can Step 1: Go hire an accountant... Tell them exactly how you plan on conducting business Step 2: Follow their advice... End of story. Reasoning is this. I'm personally an LLC. Because at one time I did have employee's and I like the Tax breaks and pass through cash flow the LLC offered me. You may very well do great as a sol prop, maybe a limited partnership is the right course for you. OR your situation calls for an S-corp or C- corp. Only a qualified Accountant will know which situation is best for your own personal needs. Or you can just ignore good advice and do what 99% of other people tend to do and go down to the courthouse and simply grab a DBA and miss out on all the tax breaks and such...