Question

Topic: Other

How To Create Llc?

Posted by workwiththeexpert on 4/28/2016 at 10:18 AM ET 250 Points
Hello,
I'm a real estate broker starting my own company.
I would like to start an LLC. I will be a small business.

Based on my research is appears LLC is best and I think I can file as an s-Corp for help for tax purposes?

Any advice on how to structure my company?

Also, what website is most cost effective and efficient for establishing your company docs?
Legal zoom?
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RESPONSES

  • Posted by Peter (henna gaijin) on 4/28/2016 at 11:59 AM Accepted
    LLC and S-corp are different, and treat taxes slightly differently. I believe in LLC, the company pays taxes, where in S-corp the company determines it profit/loss and this is passed on to stock holders who then deal with the tax implications on their taxes.

    There is a book by Nolo that I would recommend reading to determine which to set up:
    LLC or Corporation?: How to Choose the Right Form for Your Business
    https://amzn.to/1rkXXbT

    This Nolo book would help you with the forms needed to do the incorporation:
    Incorporate Your Business: A Step-by-Step Guide to Forming a Corporation in Any State
    https://amzn.to/1rkYvON

    I've used lots of Nolo books and they take complicated legaeze subjects and turn them into things I can understand.
  • Posted by mgoodman on 4/28/2016 at 2:36 PM Accepted
    I would contact a local attorney who knows the ropes in your state. I have both an S-Corp and a LLC (for different businesses) and each one has its pros and cons. A good attorney will guide you through the selection process.
  • Posted by Jay Hamilton-Roth on 4/28/2016 at 10:53 PM Accepted
    I second Peter's suggestion to read Nolo Press publications to clarify the key issues, and discover if you need an attorney or can file the paperwork yourself.
  • Posted by workwiththeexpert on 5/5/2016 at 9:41 AM Author
    Thank you thank you thank you for all of your time.
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