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Old 02-08-2012, 04:20 AM
OUTLANDER OUTLANDER is offline
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Join Date: Dec 2005
Location: Canton,Ohio
Posts: 576
Quote:
Originally Posted by DA Quality Lawn & YS View Post
Having recently read a book on biz structures, the S Corp does not hold many advantages over the LLC at all. Perhaps savings on self employment taxes, but you sting your own butt when you go to collect your soc sec at retirement (if there is any left??). Advantage LLC here.

Now if you are solo with a few accounts, don't anticipate debts to be any sort of a problem, then sole prop is just fine. Just get a nice big fat limit of GL coverage and should be ok. When you start bringing on employees, getting a broader reach, taking on biz debt then move to LLC.

(Note, an LLC does not exempt you from self employment taxes whatsoever. There is NO tax advantage to a single member LLC vs. a sole prop.
Good postthis is the info you should be considering i would say, considering starting small as this
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