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    2 Replies Latest reply on Oct 27, 2011 1:47 PM by OfficeGoddess

    Need help, LLC vs Corp

    dennyc716 Wayfarer

      I am in the process of opening a retail pet store in a local shopping center.  I am a little confused on what is best for me and hope you guys could give me some insight.  I am the only owner of the company and will not have shareholders.  My question is, what would benefit me the most, LLC, S-Corp, etc.  I will not own the property, i will lease it.  Can you please give my your suggestions.  I have a appointment with an atty on November 3rd but need to put it in the business plan for my equipment leasing.  Thank you for all your opinions in advance

        • Re: Need help, LLC vs Corp
          LUCKIEST Guide

          It is great that you have an appointment with an attorney.

           

          How about making an appointment with an accountant. Whatever you pay the professionals NOW, you will save in the FUTURE (like taxes and the IRS)

           

          Good luck

            • Re: Need help, LLC vs Corp
              OfficeGoddess Navigator

              I am a sole business owner that won't have employees so I opted for LLC.  I have been told by many folks that if you will be hiring employees but not adding stockholders you should become an S-corp.  I agree with the advice to talk to an accountant, but you should also talk to the S.C.O.R.E. folks at www.score.org.  They are retired professionals that mentor at no charge and can properly answer your question.