w/ an s-corp, you have the same liability protection as a shareholder that you would w/ an llc.cschmid said:I would due the LLC just because of the liability..it is best choice for that tax wise I don't think it makes much difference..
I think we are mixing terms up here. Sub chapter S refers to how the IRS treats the income from your company. It has nothing to do with the structure of your company.brantmacga said:w/ an s-corp, you have the same liability protection as a shareholder that you would w/ an llc.
that is why you buy a stamp that has the company name on it and use it rather than signing your own name when you receive materials.cschmid said:I know if you are share holder for your inc. Business..and you sign for materials you can personally be held accountable..So being Inc. and being the manager / president puts you back in the responsible role for Debt..So it is double edge sword..
I don't know why people think LLCs are such a tax boon. For the most part it is just a normal company with a limited number of stockholders (I think it is limited to 50) and a very flexible structure (generally a BOD is not required for one thing).Rewire said:The next batch of auditors are being trained for LLCs which will be the next IRS target.