SOCIAL: tax entity for startup

[Kelly hawk]

We run opencar as an LLC. AFAICT, the main thing we're missing out on  
is insurance/retirement tax benefits. But we're not much on paperwork  
in this household, so it's a tradeoff we're living with just fine.  
Very little paperwork and a flat yearly fee to the state.

On Oct 21, 2009, at 10:27 AM, Geoff Davis wrote:

> I've always used S-corps for my businesses.  They're pretty easy to  
> maintain and to set up.  I've used bizfilings.com (inexpensive and  
> easy to use) and a lawyer (more expensive and kind of a pain) - I  
> recommend bizfilings.com.  I don't know a lot about the differences  
> between the various types of corporations, but all the people I've  
> talked to for advice have recommended an S-corp, and all the reading  
> I've done points to an S-corp for me.  Your business may be  
> different, though.
>
> Geoff
>
> On Wed, Oct 21, 2009 at 10:21 AM, Brian Chaikelson <brianchaikelson at gmail.com 
> > wrote:
> Hi -
>
> Anyone with experience getting a startup/small business up and  
> running?  I'm trying to navigate the right tax entity - ie. sole  
> proprietorship or LLC versus S-corp/C-corp, etc.  No other employees  
> at this point, so the latter 2 may be overkill.
>
> Is setup complicated and if so, recommended tax advisors/accountants  
> to guide me through this?
>
> Thanks!
> Brian
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