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Old August 26th, 2013, 09:51 AM   #1
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Default llc vs incorporated for small business

I need some skooling on the difference and why I would choose one over the other. This would be for a small start up sales rep business.
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Old August 26th, 2013, 09:58 AM   #2
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call


a



lawyer.



way more to this then you can imagine.
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Old August 26th, 2013, 10:00 AM   #3
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call


a



lawyer.



way more to this then you can imagine.
already doing that as well.....just looking for additional information.
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Old August 26th, 2013, 10:19 AM   #4
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And a tax guy.
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Old August 26th, 2013, 10:26 AM   #5
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and a small business owner
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Old August 26th, 2013, 10:30 AM   #6
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all done.
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Old August 26th, 2013, 10:42 AM   #7
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Yes, definally check with a lawyer. There is a lot of diffrence
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Old August 26th, 2013, 10:46 AM   #8
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LLC, unless you want to take your company public down the road, or operate in several different states (which having a corporation is a benefit). Starting an LLC is not difficult, especially if you're the only owner.
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Old August 26th, 2013, 11:10 AM   #9
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post in the pub on gl4x4 too
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Old August 26th, 2013, 11:17 AM   #10
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LLC, unless you want to take your company public down the road, or operate in several different states (which having a corporation is a benefit). Starting an LLC is not difficult, especially if you're the only owner.
Chrysler is an LLC...
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Old August 26th, 2013, 11:22 AM   #11
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Chrysler is an LLC...
Your point?

You can still operate an LLC in other states by having brick and mortar locations there. Depending on what states you are operating in, it can be an advantage or disadvantage to have an LLC compared to a corporation. It really depends on what type of business it is.

I also don't know Chrysler's organization, but one LLC can own several LLCs and have one in each state a location is present. That may be the case with Chrysler, but I don't know for sure.
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Old August 26th, 2013, 11:45 AM   #12
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point being, all the knowledge you shared with us about LLC's are contradictory to how other LLC's, specifically Chrysler, operate.
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Old August 26th, 2013, 01:25 PM   #13
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point being, all the knowledge you shared with us about LLC's are contradictory to how other LLC's, specifically Chrysler, operate.
I didn't go into specifics, and tried to keep it simple and short. LLCs CAN operate in several different states. Sometimes it is much easier for tax purposes and other areas to have a corporation if you're going to operate in several states. Again, it all depends on the type of business. For barry1me's business, an LLC would be his best choice. None of what he wants to do would make a corporation advantageous.
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Old August 26th, 2013, 01:26 PM   #14
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I didn't go into specifics, and tried to keep it simple and short. LLCs CAN operate in several different states. Sometimes it is much easier for tax purposes and other areas to have a corporation if you're going to operate in several states. Again, it all depends on the type of business. For barry1me's business, an LLC would be his best choice. None of what he wants to do would make a corporation advantageous.
Sometimes its better to be thought a fool, than to open your mouth (keyboard) and remove all doubt.

The truth is you don't know, you don't know enough about the business, or LLC's, or Corporations, or Sole Proprietorships, or partnerships, or any other form of small business....so you should have just not spoken.
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Old August 26th, 2013, 01:26 PM   #15
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Operate a cash only business. Do all your work under the table. Use a fake name and drive a stolen car. Its Coo Bro.
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Old August 26th, 2013, 01:31 PM   #16
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Sometimes its better to be thought a fool, than to open your mouth (keyboard) and remove all doubt.

The truth is you don't know, you don't know enough about the business, or LLC's, or Corporations, or Sole Proprietorships, or partnerships, or any other form of small business....so you should have just not spoken.
Actually I do know. I forgot you are the know it all.
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Old August 26th, 2013, 01:33 PM   #17
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Actually I do know. I forgot you are the know it all.
According to your posts, you don't.

I did not say I knew anything on the subject. I know enough to know that your answers weren't helpful, informative, or useful though.
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Old August 26th, 2013, 01:41 PM   #18
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According to your posts, you don't.

I did not say I knew anything on the subject. I know enough to know that your answers weren't helpful, informative, or useful though.
If you don't know anything on the subject, how do you know I'm wrong?

An LLC is by far the best choice for small business. Unless he wanted to take his company public, or have an office in almost every state in the US, there is no real advantage to go that route. I'm also pretty sure he doesn't want to subject himself to double taxation either if he went with a C corporation, which would not be an advantage. He could go the S route, but in that case he's better off with an LLC anyways.

He is going to operate as a sales rep, or sales consulting type business probably owned by himself. A sole proprietorship offers no legal protection, and your personal assets are mixed right in with your business assets. An LLC would offer him a legal blanket over his personal assets. It's not like he is going to have a high liability in this type of work though.
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Old August 26th, 2013, 01:44 PM   #19
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Everyone stop this is just another post by barryoneinme that will never go anywhere and is a waste of everyone's time, thought and effort!
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Old August 26th, 2013, 01:45 PM   #20
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Everyone stop this is just another post by barryoneinme that will never go anywhere and is a waste of everyone's time, thought and effort!
Me getting in an e-penis fight with kickstand is never a waste of time, thought, and effort.
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