GoFuckYourself.com - Adult Webmaster Forum

GoFuckYourself.com - Adult Webmaster Forum (https://gfy.com/index.php)
-   Fucking Around & Business Discussion (https://gfy.com/forumdisplay.php?f=26)
-   -   S-Corp, LLC or Sole Proprietor ? (https://gfy.com/showthread.php?t=981279)

mahoney 08-05-2010 08:47 PM

S-Corp, LLC or Sole Proprietor ?
 
If you own 100% of your business which one is the best to have? S-Corp, LLC or sole proprietor ? Is it a good idea to pay yourself as an employee with an S-corp? Pros and Cons? :helpme

Sly 08-05-2010 08:50 PM

Definitely not sole proprietor. The rest depends on your personal situation. Speak with a lawyer or CPA, they will help you figure it out.

pornlaw 08-05-2010 10:48 PM

In Cali I would go with a LLC as a sole owner and do an S-Corp election...

Amputate Your Head 08-05-2010 10:53 PM

Quote:

Originally Posted by mahoney (Post 17393872)
Is it a good idea to pay yourself as an employee with an S-corp? Pros and Cons? :helpme

Yes it's a good idea, unless you like explaining yourself to the IRS.

BigDeanEvans 08-05-2010 10:55 PM

Scorp and take a pay as an employee

AlCapone 08-06-2010 02:32 AM

C-Corp | Delaware

LaoTzu 08-06-2010 04:55 AM

S-Corp. Pay yourself a small but reasonable salary, but take dividends too. Do not take dividends too regularly or it can be considered regular compensation subject to social security and other taxes you can legally circumvent. You pay income tax on dividends since everything in the company goes to your personal finances at the end of the year.

Always work with a CPA.

Forest 08-06-2010 05:19 AM

Quote:

Originally Posted by pornlaw (Post 17394127)
In Cali I would go with a LLC as a sole owner and do an S-Corp election...

what he said and in FL as well

CIVMatt 08-06-2010 07:00 AM

LLC for sure

myneid 08-06-2010 08:30 AM

s-corp if you can afford it. your personal assets are much better protected that way.
and definitely pay yourself a salary and get a payroll service like intuit. will make tax time a lot easier. And keep your personal and business totally seperate, get credit cards for the s-corp and bank accounts.


All times are GMT -7. The time now is 10:19 PM.

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2025, vBulletin Solutions, Inc.
©2000-, AI Media Network Inc123