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Are you a sole proprietor or LLC/Inc? Are you a sole proprietor or LLC/Inc?
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Old 05-27-2004, 10:17 AM   #1
NinjaSteve
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Are you a sole proprietor or LLC/Inc?
Do you guys basically mix your income with your personal life and finances? Or have you incorporated?
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Old 05-27-2004, 10:22 AM   #2
Jon
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I used to use DBA
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Old 05-27-2004, 10:33 AM   #3
pornguy
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Use an Corporation. It will help add a layer of protection to your home and things like that. If someone sues you, they will go after the company first. If you are properly insured, then most likely they will not make it to your personal things.


Just my
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Old 05-27-2004, 10:41 AM   #4
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S-Corp..
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Old 05-27-2004, 10:43 AM   #5
Ice
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Incorporated here
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Old 05-27-2004, 10:43 AM   #6
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Corporation. Personal taxes are too high.
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Old 05-27-2004, 10:47 AM   #7
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Old 05-27-2004, 10:48 AM   #8
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Quote:
Originally posted by pornguy
Use an Corporation. It will help add a layer of protection to your home and things like that. If someone sues you, they will go after the company first. If you are properly insured, then most likely they will not make it to your personal things.


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(Pornguy, can you hit me up on icq 111432084? I have a question for you and don't see an icq# or contact email addy anywhere on your program. Thanks!)
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Old 05-27-2004, 10:52 AM   #9
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S-Corp is a good since you avoid the double taxaction of a C-Corp. Not everybody can become an S-Corp though, there are several restictions that come with it; a limitation on the numbers of shareholders for example. I would also recommend to choose a legal company structure which limits liability and is treated as a seperate entity. The Ltd also offers a very interesting legal frame work.
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Old 05-27-2004, 11:31 AM   #10
NinjaSteve
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Is taxation the same between S-corp and LLC? The details seemed to be about the same.
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Old 05-27-2004, 11:33 AM   #11
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Old 05-27-2004, 11:49 AM   #12
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S Corp... accountant found more ways to get write offs than with the LLC i have...
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Old 05-27-2004, 11:51 AM   #13
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Quote:
Originally posted by NinjaSteve
Is taxation the same between S-corp and LLC? The details seemed to be about the same.
It will not be exactly the same, but as far as I know the answer to your question would be:

No, however it would be very similar.

Please correct me if I am wrong.
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Old 05-27-2004, 11:51 AM   #14
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Inc'd here.
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Old 05-27-2004, 12:03 PM   #15
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