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Surferbum21
11-07-2008, 11:09 PM
Okay I have asked around town what the difference is between the two and which one is better for a LCO. Can you guys fill me in? I became an LLC two years ago after I graduated college and decided to take my business to the next level. mainly I did it b/c a customer told me he did it for his rental properties to limit his liability in case someone came after him and sued they couldn't come after his personal property (house, boat, etc.) Thanks in advance

DLAWNS
11-07-2008, 11:19 PM
I don't know what technically the difference is but I was advised by my accountant as well as others to go with an S-Corp. I believe it is best for tax reasons as well as liabilities. I hope someone else can chime in with a better explanation but that is the way I understand it.

Surferbum21
11-10-2008, 08:25 PM
bump...any more info? thanks

Tyler7692
11-11-2008, 05:57 PM
For the best answer, see your attorney.