Look at a C Corp

May 27, 2020
2:43:56pm

TwinsRight Starter

Look at a C Corp

And I'd probably recommend C Corp if you are including other people. It gives you much stronger encouragement to do things officially instead of relying on handshake deals.

Here's a link with some pros and cons of both LLCs and C Corps

Lighter Capital

Choice of Entity: LLC vs. C Corporation

LLC vs C Corporation tax advantages and disadvantages guide. Which entity should you choose: a limited liability company (LLC) or a C corporation?

https://www.lightercapital.com/blog/choice-of-entity-llc-vs-c-corporation/

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TwinsRight

Bio page: TwinsRight
Joined: Nov 21, 2015
Last login: Apr 22, 2024
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Messages

Author

Time

LLC or General Partnership

Hoax

5/27/20 2:19pm

LLC

Cougarclaw

5/27/20 2:21pm

With a general partnership you can be liable for anything your partner does.

vegasnative

5/27/20 2:26pm

Never a General Partnership. Ever.

Turnpike Lane

5/27/20 2:30pm

Whenever possible, go with an LLC.

ebv

5/27/20 2:37pm

Look at a C Corp

TwinsRight

5/27/20 2:43pm

C Corps are very expensive, start with LLC, and if you get big enough, make the

Cougarclaw

5/27/20 2:46pm

Yep. The informality of LLCs is actually a huge bonus for most young companies.

ebv

5/27/20 2:55pm

Step 1: get a very good accountant. Step 2: talk to an attorney. For your

mkg

5/27/20 2:54pm

This is good advice. CPAs and attorneys may feel expensive up front, but

ebv

5/27/20 2:55pm

What are your projected revenues / goals

kapcreations

5/27/20 3:34pm

Thank you

Hoax

5/27/20 4:04pm

Thanks everyone. LLC it is

Choice of Entity: LLC vs. C Corporation

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