How many individual webmasters are incorporated?

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  • shermo
    • Oct 2026
    #1

    How many individual webmasters are incorporated?

    For tax purposes, I hear an S-Corp is beneficial. I've also heard that an LLC is a great way to seperate personal from biz if you have people on the payroll. My question is whether or not it's beneficial to incorporate if you're an individual webmaster promoting other companies? I currently pay a self employment tax, but I'm sure there's an option out there that is a million times better than that. Also, how much money would you have to earn to make incorporating beneficial? I know there's no rule, but is it worth doing if I'm not quite at the 6 figure mark? I'll be close to it this year, but I don't want to do so if it won't be beneficial.

    Also, I'll be purchasing a home and when applying for a loan I need to have 2 year job history. If I stay how I am now, I'm fine, but if I incorporate will I have to start the 2 year history all over again?

    I'm sure others have these same questions. What would you guys suggest? What have you done to make your finances as tax friendly as possible?
    Tags: None
    • TDF
      Triple OG nigga on GFY
      • Mar 2002
      • 27296
      #2
      aye yo im ghetto as fuck INC..nigga what?
      Sig heil

        Comment

        • brand0n
          been very busy
          • Nov 2002
          • 26983
          #3
          llc outta delaware
          want to buy this spot for cheap? it is of course for sale. long term deals are always the best bet. brand0n/ at/ a o l dot commies.

            Comment

            • eroswebmaster
              March 1st, 2003
              • Jul 2001
              • 20295
              #4
              llc here
              For rent - ICQ 127-027-910
              Click here for more details

                Comment

                • shermo
                  #5
                  Originally posted by brand0n
                  llc outta delaware
                  Is there a benefit from having an LLC elsewhere? There is no state tax here in Vegas, so I'm pretty sure it'd be just as good to LLC here as it is anywhere else.

                    Comment

                    • shermo
                      #6
                      Originally posted by eroswebmaster
                      llc here
                      Do you have people on a payroll, or is this just for yourself? I won't be paying anybody until I get my program launched (in the semi-distant future).

                        Comment

                        • $5 submissions
                          I help you SUCCEED
                          • Nov 2003
                          • 32189
                          #7
                          It's a good idea to incorporate to shield yourself from liabilities.

                          Also, if you're incorporated you can claim more business deductions by putting purchases under your company's name.

                            Comment

                            • modelgigtalent
                              Confirmed User
                              • May 2003
                              • 2208
                              #8
                              LLC here.


                              Web marketing - video editing - color correcting and more. ICQ -165829688

                                Comment

                                • shermo
                                  #9
                                  Originally posted by $5 submissions
                                  It's a good idea to incorporate to shield yourself from liabilities.

                                  Also, if you're incorporated you can claim more business deductions by putting purchases under your company's name.
                                  That part is understood and it makes GREAT sense. I do however write off most everything business related with no problems. Again..Going back to the home loan question.. Would I have to start my 2 years employment all over again?

                                    Comment

                                    • BigFish
                                      Confirmed User
                                      • Jan 2003
                                      • 1159
                                      #10
                                      S Corp more beneficial tax wise than LLC. LLC is more flexible since there's no limit on the number and type of owners. Both share corp liability protection. Regarding home loan: Depends on your loan officer and who you're dealing with.

                                        Comment

                                        • Sly_RJ
                                          Live Hard - Die Hard
                                          • Feb 2002
                                          • 17042
                                          #11
                                          I personally have a S-Corp. When I work or do work for someone, the checks go to my corporation.
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                                            Comment

                                            • KRL
                                              Entrepreneur
                                              • Oct 2002
                                              • 31429
                                              #12
                                              LLC's and S-Corp's. Got them both.
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                                                Comment

                                                • shermo
                                                  #13
                                                  So it looks to me as if the S-Corp is more beneficial for an individual without partners working for other companies. Maybe I'll do an S-corp for my personal income and an LLC when I partner with a couple people on the programs. I planned on the LLC for the program already, but I was just wondering the best route to take for my personal work.

                                                  I assume this is sort of what you have setup, KRL?

                                                    Comment

                                                    • BigFish
                                                      Confirmed User
                                                      • Jan 2003
                                                      • 1159
                                                      #14
                                                      Originally posted by shermsshack
                                                      So it looks to me as if the S-Corp is more beneficial for an individual without partners working for other companies. Maybe I'll do an S-corp for my personal income and an LLC when I partner with a couple people on the programs. I planned on the LLC for the program already, but I was just wondering the best route to take for my personal work.

                                                      I assume this is sort of what you have setup, KRL?

                                                      Who said you can't have partners with S-Corp? It's almost exactly the same as an LLC. The differences are: the way you go about setting one up, S-Corp limit of 75 shareholders (partners) and other restrictions such as only a U.S. entity is able to create one. The tax benefit realized to the S-Corp is that if you retain most of the money in the corporation initially and distribute most of it in the form of dividend payments later, you're subject to less tax than a LLC.

                                                        Comment

                                                        • Illicit
                                                          wtf ?
                                                          • Dec 2003
                                                          • 11895
                                                          #15
                                                          How much does it cost to setup an LLC ? Whats the best way to go about it ? Ive seen places online but for some reason I think they are a rip off.
                                                          Insert Sig Here

                                                            Comment

                                                            • slapass
                                                              Too lazy to set a custom title
                                                              • Nov 2002
                                                              • 14625
                                                              #16
                                                              llc here and no it does not effect your ability to get a mortgage. Just explain it if they seem goofy but otherwise it is considered the same type of empleyment.

                                                                Comment

                                                                • Greg B
                                                                  So Fucking Banned
                                                                  • Jul 2001
                                                                  • 7014
                                                                  #17
                                                                  Originally posted by ajpiii
                                                                  How much does it cost to setup an LLC ? Whats the best way to go about it ? Ive seen places online but for some reason I think they are a rip off.
                                                                  That's a good question. Perhaps someone knows of a one-stop company that does it all for you.

                                                                  The only one I know of is NCHcorp. I forgot their website though. They advertise all over the radio.

                                                                  They're based in Nevada. Lots of stuff to read though. Make sure you understand it all. There are major benefits to incorporating/LLC as that's what the wealthy do. No one buys their own shit. They let the company do it. Company buys the houses, cars etc. It's like optimizing investing in oneself and makes one more responsible for what one does in business but protects you from when you do dumb shit or disaster spreads.

                                                                    Comment

                                                                    • shermo
                                                                      #18
                                                                      Great info guys! 1 more question... Is it a must to have a business bank account before starting up an S-Corp, or can you do it after you are incorporated?

                                                                        Comment

                                                                        • Rictor
                                                                          Old Timer
                                                                          • Jan 2001
                                                                          • 12208
                                                                          #19
                                                                          Originally posted by shermsshack

                                                                          That part is understood and it makes GREAT sense. I do however write off most everything business related with no problems. Again..Going back to the home loan question.. Would I have to start my 2 years employment all over again?
                                                                          No, you are still self-employed.

                                                                            Comment

                                                                            • shermo
                                                                              #20
                                                                              Originally posted by Rictor


                                                                              No, you are still self-employed.
                                                                              Awesome.... Sounds like I'll be incorporating very soon. About fucking time, eh?

                                                                                Comment

                                                                                • Odin
                                                                                  Confirmed User
                                                                                  • Jan 2004
                                                                                  • 2545
                                                                                  #21
                                                                                  Bring it on.
                                                                                  ICQ: 637//961--015

                                                                                    Comment

                                                                                    • Rictor
                                                                                      Old Timer
                                                                                      • Jan 2001
                                                                                      • 12208
                                                                                      #22
                                                                                      Originally posted by ajpiii
                                                                                      How much does it cost to setup an LLC ? Whats the best way to go about it ? Ive seen places online but for some reason I think they are a rip off.
                                                                                      Not much. A lawyer can set you up in a couple hours.

                                                                                        Comment

                                                                                        • Pun
                                                                                          Confirmed User
                                                                                          • Oct 2003
                                                                                          • 379
                                                                                          #23
                                                                                          There's a bunch of info on this at www.incorporate.com. They also can setup your corp in your choice of state, and they do all the paper pushing for you. From what I've heard it's a good program, however I haven't incorporated yet so I can't speak from first hand experience.
                                                                                          TrafficHolder.com - Buy/Sell Adult Traffic
                                                                                          ICQ: 18771941

                                                                                            Comment

                                                                                            • BradM
                                                                                              Confirmed User
                                                                                              • Dec 2003
                                                                                              • 3397
                                                                                              #24
                                                                                              I haven't gotten around to it...

                                                                                                Comment

                                                                                                • Axeman
                                                                                                  Confirmed User
                                                                                                  • Feb 2004
                                                                                                  • 5201
                                                                                                  #25
                                                                                                  used to be, then stopped using it due to the extra hassles. I am thinking about doing it again though for extra protection.
                                                                                                  XXXRewards - Karups - Boyfun - Jawked. Paying on time since 1997. Contact me at brent [at] xxxrewards.com

                                                                                                    Comment

                                                                                                    • shermo
                                                                                                      #26
                                                                                                      Originally posted by Axeman
                                                                                                      used to be, then stopped using it due to the extra hassles. I am thinking about doing it again though for extra protection.
                                                                                                      Extra hassles? Can you elaborate?

                                                                                                        Comment

                                                                                                        • MikeSmoke
                                                                                                          Confirmed User
                                                                                                          • Nov 2002
                                                                                                          • 3241
                                                                                                          #27
                                                                                                          Originally posted by shermsshack

                                                                                                          Going back to the home loan question.. Would I have to start my 2 years employment all over again?
                                                                                                          i had that same issue...it took some extra paperwork and explanations, and time going back and forth, but they finally understood that my business was the same before I incorporated under a different name. work with a mortgage broker who will fight for you and you'll be all set.

                                                                                                          icq: 541-739-92

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                                                                                                            • AlienQ - BANNED FOR LIFE
                                                                                                              best designer on GFY
                                                                                                              • Mar 2003
                                                                                                              • 30307
                                                                                                              #28
                                                                                                              I am doin an LLC in a month or so.
                                                                                                              Its lookin like June.

                                                                                                                Comment

                                                                                                                • rounders
                                                                                                                  Confirmed User
                                                                                                                  • Sep 2003
                                                                                                                  • 2931
                                                                                                                  #29
                                                                                                                  doing LLCs is great...
                                                                                                                  ICQ#: 153923840

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                                                                                                                    • AlienQ - BANNED FOR LIFE
                                                                                                                      best designer on GFY
                                                                                                                      • Mar 2003
                                                                                                                      • 30307
                                                                                                                      #30
                                                                                                                      Private design has been nice to me but I do wanna go after bigger game and to do that one got's to set up right for them to even come to the table.

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                                                                                                                        • PersianKitty
                                                                                                                          Meow Media Inc.
                                                                                                                          • Jul 2001
                                                                                                                          • 7785
                                                                                                                          #31
                                                                                                                          S-corp here.

                                                                                                                            Comment

                                                                                                                            • shermo
                                                                                                                              #32
                                                                                                                              Originally posted by MikeSmoke


                                                                                                                              i had that same issue...it took some extra paperwork and explanations, and time going back and forth, but they finally understood that my business was the same before I incorporated under a different name. work with a mortgage broker who will fight for you and you'll be all set.
                                                                                                                              Good to know. I'd better get a jump on incorporating pretty fast then. We're already in March... I'm slacking big time!

                                                                                                                                Comment

                                                                                                                                • erehwon
                                                                                                                                  Confirmed User
                                                                                                                                  • Nov 2003
                                                                                                                                  • 3759
                                                                                                                                  #33
                                                                                                                                  We're doing a S-corp for this next project, its going to cost us about $675 with the state and legal fees. Our accountant says we'll make that back within a year on taxes alone.

                                                                                                                                  Turnaround time, less than a couple of days. As for the bank account, no worries if you don't have one beforehand, in fact its a little easier.
                                                                                                                                  Money NEVER $leep$...

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                                                                                                                                    • JulianSosa
                                                                                                                                      Confirmed User
                                                                                                                                      • Aug 2003
                                                                                                                                      • 3042
                                                                                                                                      #34
                                                                                                                                      Originally posted by shermsshack
                                                                                                                                      Great info guys! 1 more question... Is it a must to have a business bank account before starting up an S-Corp, or can you do it after you are incorporated?

                                                                                                                                      You have to do it after.

                                                                                                                                        Comment

                                                                                                                                        • Nifield
                                                                                                                                          Confirmed User
                                                                                                                                          • Mar 2003
                                                                                                                                          • 1345
                                                                                                                                          #35
                                                                                                                                          I used this company to incorporate out of nevada : http://www.nationalbusinessinc.com/
                                                                                                                                          they made everything really easy and it took less then 2 weeks.
                                                                                                                                          ICQ9635421

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                                                                                                                                            • ibuydomains
                                                                                                                                              Confirmed User
                                                                                                                                              • Feb 2004
                                                                                                                                              • 710
                                                                                                                                              #36
                                                                                                                                              I have an llc also. It's a single-owner llc, so no tax advantages

                                                                                                                                              Thinking about doing S-corp instead, but dont you get taxed twice? Corporate tax first plus income tax when you pay yourself?

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