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Old 11-16-2013, 08:31 AM
 
59 posts, read 87,855 times
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Quote:
Originally Posted by liloulou View Post
Excellent! The kind of work I do would rarely cause a lawsuit of sorts. But considering how litigious our society has become over the years, I suppose you can never be too secure.

I will look at those sites and set up an LLC then. Thanks! :-)
Unless you are doing something outside of the traditional home based (Mary Kay/MCA/AmeriPlan) type businesses, I would say no to going all out on an LLC. Why pay $250 a year JUST to have an INC., behind/ attached to your name when a simple, license from your state revenue will do? Having an INC or Limited Liability Corporation doesn't necessarily make your business look any more better than not having one. That's just not a good reason to spend an extra $250 or more to have one. Not having it saves you money that you could be spending on growing/improving your business and services.
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Old 06-16-2015, 10:27 PM
 
3 posts, read 2,082 times
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Can anyone briefly explain how taxes would play out if I register as an LLC (roofing and siding sub)?
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Old 06-17-2015, 12:09 AM
 
7,870 posts, read 3,436,837 times
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Originally Posted by gmiester View Post
Can anyone briefly explain how taxes would play out if I register as an LLC (roofing and siding sub)?
Simplest way is that the LLC is single member (just you). In that case, the LLC is considered a "disregarded entity" by the IRS. You would calculate your business income as if you were a sole proprietor by filing schedule C with your 1040 return.
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Old 10-18-2015, 04:41 PM
 
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I am currently a W-2 state contractor considering becoming either a 1099 or direct corp to corp vendor. There is an umbrella contract company and middle-man contractor companies that are direct vendors with the umbrella contract company. (hope that's not confusing) I'm considering breaking from the middle-man contract company because the are taking at least 30% off the top of my salary. Which option should I choose besides a 1099? LLC, S Corp or Corporation?
Thanks

p.s. I'm green to all this
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Old 05-06-2016, 01:46 PM
 
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Read this thread with interest and am hoping my quer below makes sense!!- can someone just advise that if a single member LLC was formed- for tax purposes would i then be better of being an 'employee' of my own LLC or a 'contractor' to the LLC?
The reason i ask is that in doing general research for our impending move to the US, i have hit a complete block with regards the requirements to 'prove income' for apartment rental, they all seem to be asking for 3 months pay stubs
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Old 06-28-2016, 10:45 AM
 
1 posts, read 478 times
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I set myself up as a LLC but I only have one company that I do work for. I do Office Management for this company. Do I need to be a LLC or any other status of business, or would I just be better off as a sole proprietor, or self employed? What if any advantage do I have as a LLC?
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