Sole Proprietorship or LLC

**SkeetSkeet** · 01-24-2007, 04:14 PM

we just became an LLC

**UGRMEDIA** · 01-24-2007, 05:19 PM

did you start out as sole?

if you did would you recomend people just opt for llc as a business structure opposed to sole? thanks.

**coldfire** · 01-24-2007, 05:34 PM

LLC for sure! You personly don't want to be liable for business fuck ups, getting sued or something. This way your company gets the liability and not you.

**Fat Panda** · 01-27-2007, 06:19 AM

totally agree LLC is the way to go period

**The Ghost** · 01-27-2007, 10:00 PM

Depends on a few factors (many of them banking requirements for accounts) but an S-Corp is good for a small business in regards to taxes and personal asset protection. My understanding is sole proprietor does not have the legal protection of a corportation .

Talk with a tax professional (or two) to find what is best in your situation.

**appliedops** · 01-31-2007, 02:01 PM

LLC is better, but make sure you do it right.
A f'ed up LLC is really bad...

**vcproductions** · 01-31-2007, 05:54 PM

LLC. liability factor plus you can still do the taxes under your personal return, if you want to.

its easy, nothing to it plusi feel its more professional to promote in that manner. business cards, ads whatever. thats just me, think big, act big, be big.

**bdld** · 02-01-2007, 01:00 AM

Originally posted by vcproductions

thats just me, think big, act big, be big.

i like the way you think.

**Bruce_Miller** · 02-01-2007, 07:47 AM

Talk to your accountant! each type of corporation has it's ups and downs, some are better for tax purposes, while others can shelter you from liability. Some people actually have mulitple companies, one being an LLC, one an S-corp, etc...

**erotictrust** · 02-03-2007, 09:57 AM

I like an LLC. An LLC can elect to have "S" tax status with the IRS. Best of both worlds.

**SkeetSkeet** · 02-04-2007, 07:11 AM

LLC is safer for you in the long run !

**pornicopia** · 02-05-2007, 05:24 PM

I wouldn't incorporate until you start making taxable income. It’s a waste of money to incorporate unless you have a profitable resource. Thinking big is great but spending big can ruin a company.

**vcproductions** · 02-10-2007, 04:21 PM

Originally posted by pornicopia

I wouldn't incorporate until you start making taxable income. It?s a waste of money to incorporate unless you have a profitable resource. Thinking big is great but spending big can ruin a company.

i dont recall a huge price difference between LLC and sole proprietorship. LLC was $300

**dgraves** · 02-10-2007, 05:07 PM

we just did our taxes and i asked our accountant about switching from a sole to LLC and he advised to wait a few years. we opened chica's place back in november of 2005.

**jryan89** · 02-12-2007, 08:10 AM

The LLC came about to replace the old S-Corp because it was stripped blind by the gov back in 1987... not many court cases to back it up though...

If you really want to be safe, set up a LLC and then make yourself a limited partner...

Just an idea...

**modF** · 02-12-2007, 10:11 AM

I always go LLC these days, for me it is the best option.

Sole Proprietorship or LLC

Sole Proprietorship or LLC

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