View Full Version : incorporating
06-24-2003, 05:54 PM
Are any of you incorporated? When did you know it was the time to do that? I was considering it to reduce my liability.
All County Lawns
06-28-2003, 04:13 AM
You have a number of choices. You may want to check out an L.L.C because you would be keeping the books the same. Or you could check out an S-Corp.
"The LLC has a number of advantages over an S corporation, as outlined below. However the S corporation has a significant advantage over the LLC. That is, shareholders of an S corporation can reduce or eliminate their self-employment tax on their distributive share of income of the S corporation. The manager of the LLC cannot. This is the principal reason a business may choose a S corporation over an LLC."
more on this (http://www.corporateservicecenter.com/LLC/LLCvsScorp.htm)
07-10-2003, 12:06 AM
For me it was a decision between my CPA and I, when I started to finally showing profit enough to pay myself a salary, + like county lawns said it, you get a brake with some taxes..
Talk to your cpa, maybe it would be a good idea star as a LLC, it sure beats a DBA for liability purposes, if you can also talk to a lawyer is even better.
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