11.
Re: Forming an LLC? Dec 12, 2008 9:17 PM
It depends. You should consult with a business attorney and business accountant in your state and discuss your options with them. And the question should not be 'LLC or no LLC?', as do-it-yourselfers always ask (which is one reason LegalZoom and similar services are 'dangerous' - they'll never ask why you're forming a standard LLC instead of an LLC taxed as an S corporation, an S corporation, or C corporation and are of course prohibited by law from providing such advice); instead, it should be 'entity now, later, or never, and if so, what kind of entity and why?' Do it yourselfers miss many of the tax benefits because they don't explore the entity options available with their tax advisor, and then miss much of the limited liabilty protection, because their online incorporation service entities are almost never set up and maintained properly, with custom articles, bylaws/operating agreements properly implemented, shares/ownership interests actually issued, managers/directors/officers appointed or elected, first meeting minutes documented, state/federal securities regulations complied with, state/local business tax/license/employer registrations completed, etc.
