LLC and Inc.?

Discussion in 'Business Operations' started by Surferbum21, Nov 7, 2008.

  1. Surferbum21

    Surferbum21 LawnSite Senior Member
    from SW OKC
    Posts: 392

    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
     
  2. DLAWNS

    DLAWNS LawnSite Fanatic
    Posts: 5,778

    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.
     
  3. Surferbum21

    Surferbum21 LawnSite Senior Member
    from SW OKC
    Posts: 392

    bump...any more info? thanks
     
  4. Tyler7692

    Tyler7692 LawnSite Bronze Member
    Posts: 1,086

    For the best answer, see your attorney.
     

Share This Page