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May 27, 2020
2:55
:01
pm
ebv
All-American
Yep. The informality of LLCs is actually a huge bonus for most young companies.
Especially if one person in particular is driving things.
The conversion from LLC to C-Corp is fairly simple and inexpensive if you ever need to go there.
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ebv
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ebv
Joined
Jan 12, 2011
Last login
Apr 22, 2024
Total posts
11,876 (678 FO)
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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
Hoax
5/27/20 4:05pm
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