Your Advice

Comments(4)

• 
  dlynn29th October, 2003

  Looking professional is important. Also covering you fanny and assets is just as important. Seek legal advise from your accountant and attorney for your specific situation and state. It's called cheep insurance.
  Good Luck!!

• 
  nebulousd29th October, 2003

  Yeah, I didn't form an LLC to look professional, I did it for legal protection. Talk with your CPA for tax purposes and talk with your lawyer for legal advice.
  
  I could try to explain how my CPA set up my LLC, but I would just confuse myself. She's an investor and knows how to structure things, she likes doing it and I have no problem paying her to do it. Get some good players on your team, have them structure your business, and worry about investing. Your local REI group should have some good connections.

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  frazierp29th October, 2003

  Thanks for your candid advise, Generally what cost are associated in setting up an LLC. In my state you can go to the Secretary of State's web page, forms and fill out an application to reserve the name. That gives you 120 days to setup your LLC and fill out an Article of Orginazation. Is this a complicated form?
  Thanks in advance for your replies

• 
  DaveREI29th October, 2003

  More professional..maybe...
  
  LLC does not fall under corp...
  
  yes there are tax advantages that can be had...
  
  you can have it formed professional for about $500... defenately talk to CPA/attorney .... My choice was an S Corp. but it totally depends on what you are wanting to do and achieve...
  
  Quote:
  On 2003-10-29 08:39, frazierp wrote:
  Small time investor but see growth n the future. I would like to form a company to appear more proffesional with my peers. Is there an advantage to forming an LLC and does an LLC fall under a corporation. Any down falls to forming a LLC? Any tax advantages or dis-advantages to an LLC?
  Thanks for your patients in answering this vague questions