View Full Version : LLC vs. S/C CORP
02-08-2009, 08:17 PM
Just wondering what some of you guys are? I am strongly looking into starting a lawn maint. business and am trying to choose which way I want to go. Thanks for the information!!!
02-08-2009, 08:28 PM
There are a lot of posts on this subject.
First is if you are considering a LLC or corp then you need to start with a accountant and a attorney.
Nobody here can answer this question for you.
Just you and your accountant and attorney.
If you start out as a DBA then you could probably punt with just a accountant
02-08-2009, 09:59 PM
I'm personally an S-Corp. My accountant advised me to do this as it would be in my best interest tax wise. I don't remember the reasons but it's worked for me thus far.
02-10-2009, 03:20 PM
S corps and corps offer the best protection if someone comes after you... LLC offers the greatest flexibility when paying yourself..
Consult your accountant and also a local attorney who will be doing the LLC and or Corp..
02-10-2009, 03:49 PM
Their is a general misconception that operating under (LLC) limited liability corporation shelters you from liability suites more, that is false, also the fee's/profit generated to start a LLC are much higher for a lawyer when drawing up the LLC, with little extra benefit vs a S-corp. Bottom line starting a LLC generates more income for the companies doing this service, example legal zoom, local lawyers, accountants etc. LLC does nothing more for your business than a S-corp or INC.
02-22-2009, 02:04 PM
Members of an LLC are not held personally liable. Same as with a corporation. Please note; the corporate veil can be pierced and members/shareholders can be held personally liable in some cases.
The costs for establishing either one vary state to state. Only an attorney can legally assist you with forming an LLC or corporation. You can do it yourself if you read up on it. I started my own LLC here in Georgia, but I know what the state requires. All states will indicate what is necessary for starting an entity/passthrough, etc.
As far as what is best: An attorney or CPA in your state can give you some advice. That said, and S-corp will allow you to pay yourself a small salary on w-2. The rest of your income will "pass through" at ordinary rates, not subject to FICA taxes.
vBulletin® v3.8.6, Copyright ©2000-2014, Jelsoft Enterprises Ltd.