| | #1 |
| Junior Member Join Date: Jun 2006 Location: USA
Posts: 4
| LLC or Corporation? Which should you do? If you incorporate, should you do the "S" option? I've read the descriptors for each one on several sites but I am still confused.
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| | #2 |
| Moderator Join Date: Nov 2003 Location: Arizona
Posts: 300
| Re: LLC or Corporation? Choosing an S Corp election versus an LLC really depends--- do you have partners? If yes look into the LLC , if not, the S Corp is probably the better choice. Both provide pass-through income, you can also set up SEP-IRA or Safe Harbor 401 K plans with either, although if you make a LOT of money then a C Corp will help defer income best. Now, is that as clear as mud? You could always go consult with a CPA firm that does financial planning before you set up anything & get some professional advise
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