Part time Biz
- Thread starter Vendetti
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whats part time & how many workers?..........I went LLC but was a sole prop. for along time!! depends on where you want to take your biz......if you want to dissolve it cause its not your bag.....a sole prop is the best!
Inc & LLC have protective uses along with other things, consult with an Atty. he will lead you in the right direction for what you are doing.
good luck!
LXT................
bulldoglover
ArboristSite Operative
I'm part time and an LLC.
LLC protects you as an individual separately from the business, where as sole prop or inc a lawsuit/bankruptcy/etc could potentially trickle down from the business to personal.
Consult an attorney! I suggest read up on it, become informed, pay a suit. Best of luck.
Consult an attorney! I suggest read up on it, become informed, pay a suit. Best of luck.
Blakesmaster
Addicted to ArboristSite
Including lawyer fees I believe we spent about $2850 for the whole changeover. Pricey, but should #### ever go bad, I'm protected.
bulldoglover
ArboristSite Operative
Cost me less than $100 bucks I think for the first time reg. with the state. Have to fill out paperwork and pay another 50 or 60 bucks every spring to re-up and make the state happy.
Don't get a lawyer. If you need help setting it up, I can help you for free. I do trees for fun but I'm deep into Corporate stuff. I own both LLC and two S corps and do all my legal stuff as well as all corporate taxes. I would go for ether S corporation or LLC. Both will give you protection you might need, but there are tax advantages, disadvantages. Read up on it. LLC usually cost little more due to the fact that in most states you have to put an add in the local paper.
If you just want to try the part time gig for few weeks than just do it as sole proprietor. Disolving any corporation is usually more difficult that creating one, but for the most parts, it's all very simple stuff. I'm in the middle of disolving one of my S Corps in NY state and it's PITA. You also have to decide what state you want to incorporate. Sometimes, the home states is not the best option. Running as a sole proprietor, you are taking risk, specially in this field, but if you run the corporation not by the books, then it will not offer you any protection. Very easy to pierce corporate vail specially in a one man operation.
If you just want to try the part time gig for few weeks than just do it as sole proprietor. Disolving any corporation is usually more difficult that creating one, but for the most parts, it's all very simple stuff. I'm in the middle of disolving one of my S Corps in NY state and it's PITA. You also have to decide what state you want to incorporate. Sometimes, the home states is not the best option. Running as a sole proprietor, you are taking risk, specially in this field, but if you run the corporation not by the books, then it will not offer you any protection. Very easy to pierce corporate vail specially in a one man operation.
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WOW..........you got hosed!! shouldnt cost more than a couple hundred bucks for an LLC............now blakes if you incorporated I understand...thats process is a little pricey.
hey, just become accredited through the TCIA.................they`ll fix you up. LOL
LXT...........
