advice Llc or s corp

[bballdude823]

Which is better to setup for domain business?

llc or S corp

Have had respected friends and business partners on both sides.

 

[Casey L]

I use an LLC and I find it to be a good choice, mainly because you don’t need to file a separate return if you are the sole member or in a partnership. They can be taxed as a pass through entity or as an s-corp, so you have some options as to how you decide to report and file taxes. You can also do business as a sole proprietor which you don’t need to “form” like you do an LLC or corporation; you simply do business under your own name, but don’t have the same personal asset protection. Of course talk to an accountant to make sure you know which is best for you

 

[bmugford]

If you are a sole proprietor, or small partnership, an LLC works fine.

It is a pass-through entity which means the business income just gets passed over to your personal taxes.

Depending where you live, the corp structure can have a lot more complex regulations and requirements.

Brad

 

[bballdude823]

@jberryhill any input

 

[namezest]

LLC can be set up to be taxed as an s corp. If you want shareholders then you should look into S corp inc.