to LLC or not to LLC?
Out of context: Reply #14
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- pagepapa0
if you think you will gross more than 100k within a few years do an SCorp filing.
You should also.. even if you do an LLC which is better finacial protection than not ... register your name across the US. Its easier to move your company and do business across multiple states that way. The LLC should be no more than $500 .. the S Corp under $1k.. these are inexpensive opportunity costs of doing business. As important as legal software.It should not be a question of whether or not to be a legit company but what are the benefits of your options. The S Corp has some real benefits when you start to actually make a net profit. You will be a Corporation with the S Corp filing just like the man.:)
You might also get an accountant or tax attorney .. Better to establish a small realtionship that burgeons .. rather than make frantic calls after the Govt calls.
Also dont forget to get a business tax id.. You will need to know what type of company you will have ( LLC or S Corp etc) to do the filing ( $25 online) .. Oh and get a business bank account if you dont already. hope this helps.