[greggomatic76]

I am just looking for some help. I am trying to figure out what kind of business entity I should create for my business and am stuck. I am leaning toward an LLC but am still unsure about the benefits of an Scorp or partnership. Basically I manufacture and sell winter equipment. I work on my own, no employees, and only have to run the business 4-5 months each year during the colder months. Even if you guys know of a good resource to find information about the advantages and disadvantages of each one. Any info would be helpful.

[E-Helpdesk]

Start off with an LLC. You can always change your structure later on. Operating as a sole proprietor has its risks. Check out bizfilings.com for more info. I think they might also have some good articles on this subject.

[LightHouse]

You can form and LLC and file as an S-corp if you qualify. My advice find a CPA and let them break it down for you as you wont get weighted answers without full background. Each one has its own advantages.

[Dale King]

My advice find a CPA and let them break it down for you as you. Each one has its own advantages.

Bingo!

Dale King

[greggomatic76]

Thanks for the advice. I found a CPA my father worked with recently that is helping me get it all worked out!

[SSM]

I have an LLC ( AWILD Ventures LLC)...cost me $50 for endless asset protection and tax breaks. You can file just as you would any sole prop income or decide to be taxed as a corporation (a lot more complicated). Look up what it costs in your area and decide from there.

The other option is to simply continue to operate as yourself, aka sole proprietor, and have no legal protection against your personal assets if you are sued. Your choice, but its rarely over $300 to get an LLC and you can put all of your business ventures under it like I have.