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    Landscaping businesses are often family endeavors. While this can combine the best of both worlds (personal and professional), it isn’t always smooth sailing. Click here to read more.

C Corporation

ras166

LawnSite Member
Location
Hazleton PA
I may go into business with a friend of mine, We were told it would be best way to go. Has anyone done this before and what are the ups and downs as far as anyone knows. Will a c corporation protect both of us from getting taken advantage of by the other? We will split all costs and do the labor ourselves. Any help would be greatly appreciated. Thank you in advance and have a good day
 

Kelly's Landscaping

LawnSite Platinum Member
Location
Milford CT
Get the C corp. out of your mind and go S what’s the difference well its a small little one that I'm sure you would hardly notice. Its called double taxation that’s right if you own a C corp. the corp. has to pay income tax then when you take your remaining profits Wack you now pay again at the personal level this is what democrats call fair play. If you are an S corp. you don’t pay tax at the corp. level all profits and loses are funneled down to the shareholder and you only pay tax at your personal level.
 
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