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  #11  
Old 03-01-2007, 09:21 AM
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echeandia echeandia is offline
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Quote:
Originally Posted by thes View Post
I am a sole proprietor ... under my own name.

...

I didn't have to sign any special forms to do this.
Here is an example of what I was talking about. DBA means Doing Business As which is the use of a fictitious name for an organization. Thes is using his own name and is not DBA anything. However, his company is organized as a Sole Proprietorship. DBA and Sole Proprietorship are not the same thing.
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  #12  
Old 03-01-2007, 09:28 AM
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thes thes is offline
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Quote:
Originally Posted by echeandia View Post
Thes is using his own name and is not DBA anything. However, his company is organized as a Sole Proprietorship. DBA and Sole Proprietorship are not the same thing.
Yeah...the whole "doing business as" thing didn't come into play for me at all...sorry that I used that phrase in my post.
These things are hard to make sense of sometimes.
Thanks for clearing that up, echeandia.
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~thes
& Tank (security/customer relations expert)

"There are things that go bump in the night. We're the ones who bump back."

(2) 61" Scag "walk" behinds
various line trimmers, edger stick, backpack blowers,
hedge trimmers, wheel blower, chain saw, etc
2001 Ram 1500 Standard (pulls the trailer)
1990 Ramcharger (stump puller)
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  #13  
Old 03-01-2007, 04:46 PM
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TSG TSG is offline
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Before you make up your mind,,,talk to a CPA,,,there are some major
differances between a LLC and an S corp. If you put your CPA in the same roon as your attorney, you will come out incorporated. The liability aspect is almost the same but the taxation is differant. You will keep more is you are a corporation or sole-prop with more Insurance.
Just .02
Alan
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  #14  
Old 03-01-2007, 09:23 PM
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TSG TSG is offline
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Just got off the phone with my CPA
LLC are subject to 15.3 FICA + income tax.
S Corp can distribute income better and are not subjest to FICA on distributions.
You can also work a retirement plan better based on W2 income.
1/4 of this guys clients are Lanscapers.
Just another .02
Alan
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  #15  
Old 03-01-2007, 10:40 PM
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echeandia echeandia is offline
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Quote:
Originally Posted by TSG View Post
Just got off the phone with my CPA
LLC are subject to 15.3 FICA + income tax.
S Corp can distribute income better and are not subjest to FICA on distributions.
You can also work a retirement plan better based on W2 income.
An S Corp and LLC are very similar with regard to the handling of income by the owners. In both cases income is passed through to the owners. S Corp's and LLC's do not file income taxes directly. LLC's are easier to maintain with regard to paperwork and meeting and have largely replaced S Corp's as a result.
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