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    3 Replies Latest reply on Jul 28, 2009 6:56 AM by TheConsultant

    LLC vs. S-Corp

    newCompany Newbie
      I'm working on an iPhone application with some partners and we would like to create a company to protect us legally. I was debating between LLC and S-Corp. We are based in California and we (hopefully) will have revenue. What do you recommend? We also would like to keep things simple.
        • Re: LLC vs. S-Corp
          LUCKIEST Guide
          LLC vs. S-Corp, welcome

          The LLC provides limited liability to the owners. There have been many posts on this site on this subject.
          You should also talk to your accountant.
          Good luck
          • Re: LLC vs. S-Corp
            bm911tax Adventurer
            LLC is flexible entity. What I mean by flexible is, you can have this LLC taxed as Partnership, S Corp or Sole-proprietorship. Both LLCs and S corp provide some liability protection. Many states are more favorable to LLCs then to S corps. (less fees to pay, less scrutiny) You definitely need to discuss your particular situation with a qualified tax advisor/accountant or contact me for help.

            Best of luck,
            • Re: LLC vs. S-Corp
              TheConsultant Newbie
              As a small biz owner and consultant to small biz owners, one of the biggest challenges we face is getting good business advice that doesn't bust the bank, not only legal but in other areas as well. I don't have time to type a lengthy response, but if you want to give me a call, I'll point you to a company (not mine) that gives you unlmited access to business consultants who can not only answer this question but any question you could dream up as you get ready to launch your company. They can even provide you with an extremely low cost way to create a living business plan, so you don't have to hire someone at 5-10k to create it for you. direct: 206-227-5325, toll free: 866-901-0336 - Ken