[molds02]

Seeing there are quite a few business owners on this site I figured this would be a good place to ask this questions.

I currently own two businesses but they are both partnerships, and I am looking into a LLC for my e-commerce site that I will be launching soon.

Is there a do it yourself site or a good place to go to get a LLC business setup?

Any advice/tips would be great. Thanks for the help in advance.

Matt

 

[84Scrambler]

Go to a lawyer. I spent $300 to have a lawyer do all the paperwork and file everything for me. It was well worth the money.

 

[Stan]

Go to a lawyer. I spent $300 to have a lawyer do all the paperwork and file everything for me. It was well worth the money.

x2

 

[Evil Queen]

x3

 

[molds02]

thanks for the info

 

[brimy311]

Consider a S-corp over an LLC. This way you don't pay such a high rate in personal taxes. With an S-corp, you would be a share holder and you would have a W-2 at the end of the year. Makes things MUCH easier to file with the Government every year. You should definatly pay the $300 to have a Lawyer do it for you. They can also tell you the advantages of the S-corp over the LLC.

 

[whiterhino]

Consider a S-corp over an LLC. This way you don't pay such a high rate in personal taxes. With an S-corp, you would be a share holder and you would have a W-2 at the end of the year. Makes things MUCH easier to file with the Government every year. You should definatly pay the $300 to have a Lawyer do it for you. They can also tell you the advantages of the S-corp over the LLC.

x2 on all the above plus this one. I went with an S-corp for just the reasons listed by brimy.

 

[Porter]

Yuppp

Consider a S-corp over an LLC. This way you don't pay such a high rate in personal taxes. With an S-corp, you would be a share holder and you would have a W-2 at the end of the year. Makes things MUCH easier to file with the Government every year. You should definatly pay the $300 to have a Lawyer do it for you. They can also tell you the advantages of the S-corp over the LLC.

x2 on all the above plus this one. I went with an S-corp for just the reasons listed by brimy.

x3

:thumb:

 

[fukkinrizzo]

Consider a S-corp over an LLC. This way you don't pay such a high rate in personal taxes. With an S-corp, you would be a share holder and you would have a W-2 at the end of the year. Makes things MUCH easier to file with the Government every year. You should definatly pay the $300 to have a Lawyer do it for you. They can also tell you the advantages of the S-corp over the LLC.

x2 on all the above plus this one. I went with an S-corp for just the reasons listed by brimy.

x3

:thumb:

x4

I went S corp for both companies.

 

[molds02]

Cool sounds like a S-Corp is the way to go. Now does anyone have any good recommendations on a good lawyer either in the Grand Rapids or Kalamazoo area? Thanks again guys.

Matt

 

[phittie1100]

x5 on the S-Corp - a single-member LLC is a little cheaper to set up and maintain, and it also has simpler tax filing requirements at the end of the year - just an extra page or two attached to your personal return. An S-Corp will not save you income tax $$, but it can save you FICA taxes over choosing an LLC, and based on your net profit can easily pay for the added hassle of payroll tax returns and preparing the corp tax return.

An attorney will cost you more money than setting it up yourself, but you generally get what you pay for.

[insert legal disclaimer here about giving tax advice to strangers over the Internet]

 

[brimy311]

We used David lewis of Lewis Reed & Allen. They are in Kzoo.

http://www.lewisreedallen.com/

 

[bitter356]

This may be off topic but, do you have a business plan completed?

 

[mudd_jumper]

x5 on the S-Corp - a single-member LLC is a little cheaper to set up and maintain, and it also has simpler tax filing requirements at the end of the year - just an extra page or two attached to your personal return. An S-Corp will not save you income tax $$, but it can save you FICA taxes over choosing an LLC, and based on your net profit can easily pay for the added hassle of payroll tax returns and preparing the corp tax return.

An attorney will cost you more money than setting it up yourself, but you generally get what you pay for.

[insert legal disclaimer here about giving tax advice to strangers over the Internet]

:sonicjay::sonicjay::sonicjay::sonicjay::sonicjay:

Like that will stop anyone from blaming you :teehee::teehee::teehee::teehee::teehee::teehee::teehee::teehee:

 

[molds02]

This may be off topic but, do you have a business plan completed?

Yes I have a business plan and also my site should be done in a few more weeks, it is a e-commerce based website selling Fruit Trees.

http://www.michiganfruittrees.com

 

[molds02]

We used David lewis of Lewis Reed & Allen. They are in Kzoo.

http://www.lewisreedallen.com/

How much was it for these guys to setup a S-Corp? Around $300 did ya say? I think I'll give them a call.

 

[bitter356]

Llc

That's great! Michigan Department of Economic Growth is the site at Mich.gov. Believe it or not, these people are very helpful in starting a new business.They have a vested interest to help you business to succeed (Tax income). On the LLC front, all you will have to do is apply for a tax id and DBA listing. The filing fees are cheap.You can even have an adviser walk you through the process and bounce ideas and advise. No problem at all, good luck!!!!!

 

[molds02]

That's great! Michigan Department of Economic Growth is the site at Mich.gov. Believe it or not, these people are very helpful in starting a new business.They have a vested interest to help you business to succeed (Tax income). On the LLC front, all you will have to do is apply for a tax id and DBA listing. The filing fees are cheap.You can even have an adviser walk you through the process and bounce ideas and advise. No problem at all, good luck!!!!!

cool i will look into that, I will be also selling wholesale on the site so $1,000's of dollars in trees and if something was to happen that is out of my control I would want to be protected is all.

Do you have a link to more info or any contact info on this?

Thanks for all the help.

Matt

 

[bitter356]

Llc

Matt, I don't have a specific site for the agriculture aspect, but MDEG site does address your specific industry.Give them a call, they are very helpful.

 

[molds02]

Matt, I don't have a specific site for the agriculture aspect, but MDEG site does address your specific industry.Give them a call, they are very helpful.

Cool how about a link to MDEG I tried google but came up with a bunch of useless links or a phone # would be great.