Sole Proprietorship or LLC - GoFuckYourself.com

UGRMEDIA · 01-24-2007, 05:16 PM

which do you guys do business under?

SkeetSkeet · 01-24-2007, 06:14 PM

we just became an LLC

UGRMEDIA · 01-24-2007, 07:19 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, 07:34 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, 08:19 AM

totally agree LLC is the way to go period

The Ghost · 01-28-2007, 12:00 AM

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, 04:01 PM

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

vcproductions · 01-31-2007, 07:54 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, 03:00 AM

Quote:

Originally Posted by vcproductions

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

i like the way you think.

Bruce_Miller · 02-01-2007, 09:47 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, 11:57 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, 09:11 AM

LLC is safer for you in the long run !

pornicopia · 02-05-2007, 07:24 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, 06:21 PM

Quote:

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, 07:07 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, 10:10 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, 12:11 PM

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

01-24-2007, 05:16 PM	#1
UGRMEDIA Registered User Join Date: Jan 2007 Posts: 15	Sole Proprietorship or LLC which do you guys do business under?

01-24-2007, 06:14 PM	#2
SkeetSkeet Confirmed User Join Date: Oct 2005 Location: StarlightBucks ! Posts: 5,404	we just became an LLC __________________ ICQ 283633188

01-28-2007, 12:00 AM	#6
The Ghost IslandDollars.com Join Date: Oct 2004 Location: Icq: 176176 Posts: 12,188	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. __________________ ISLAND DOLLARS 1000's of Exclusive TS scenes / Constant Updates Best TS Network your surfers will ever join

01-31-2007, 04:01 PM	#7
appliedops Registered User Join Date: Jan 2007 Location: San Francisco Posts: 68	LLC is better, but make sure you do it right. A f'ed up LLC is really bad... __________________ AppliedOperations - Premium Service Bandwidth \| Colocation \| Hosting \| Managed Services \| Consulting www.appliedops.net

02-03-2007, 11:57 AM	#11
erotictrust Registered User Join Date: Jan 2007 Posts: 4	I like an LLC. An LLC can elect to have "S" tax status with the IRS. Best of both worlds. __________________ The Erotic Trust Escort Directory The Erotic Trust

01-24-2007, 07:19 PM	#3
UGRMEDIA Registered User Join Date: Jan 2007 Posts: 15	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.

01-24-2007, 07:34 PM	#4
coldfire Registered User Join Date: Jan 2007 Posts: 9	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.

01-27-2007, 08:19 AM	#5
Fat Panda Porn is Dead. Move along. Industry Role: Join Date: Aug 2006 Posts: 13,295	totally agree LLC is the way to go period

01-31-2007, 07:54 PM	#8
vcproductions Registered User Join Date: Jan 2007 Posts: 34	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.

02-01-2007, 09:47 AM	#10
Bruce_Miller Confirmed User Join Date: Mar 2004 Location: 4REALCASH.COM Posts: 783	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...

02-04-2007, 09:11 AM	#12
SkeetSkeet Confirmed User Join Date: Oct 2005 Location: StarlightBucks ! Posts: 5,404	LLC is safer for you in the long run ! __________________ ICQ 283633188

02-05-2007, 07:24 PM	#13
pornicopia Confirmed User Industry Role: Join Date: Jan 2005 Location: united States Posts: 156	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.

02-10-2007, 07:07 PM	#15
dgraves Confirmed User Industry Role: Join Date: Nov 2005 Location: Scottsdale Posts: 2,283	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. __________________ Gloryhole Swallow \| Cumpsters \| Spy Tug \| Cum Clinic \| Chica's Place

02-12-2007, 10:10 AM	#16
jryan89 Confirmed User Join Date: Nov 2006 Location: Reno Posts: 818	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... __________________ Cheap As Shit Website Traffic While Providing The Highest Quality Online! Please Visit The Wild Babe Blog Visit My Webmaster Page For The Best Sponsors

02-12-2007, 12:11 PM	#17
modF Confirmed User Join Date: Aug 2002 Posts: 1,888	I always go LLC these days, for me it is the best option. __________________ I do things skype:themodF