What business entity did you choose? (Inc, LLC, S-Corp)

[Green&Clean]

Hey guys,
I'm almost ready to start my business. I'm debating whether to form a separate business entity or stay as sole proprietor. I thought that LLC seems to be a right fit for carpet cleaning business. But my accountant is leaning me towards S corp. She says the tax savings could be 1/2 with S corp. What are your thoughts on this?

 

[Ken Snow]

LLC's we use for our various buildings, Sub S for operating business.

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[Desk Jockey]

S-Corp

 

[hogjowl]

Seriously dude ... do you REALLY want the advice of a bunch of carpet cleaners on this one?

 

[Ken Snow]

Re: Re: What business entity did you choose? (Inc, LLC, S-C

Seriously dude ... do you REALLY want the advice of a bunch of carpet cleaners on this one?

X2 ask the pros. You wouldn't take carpet cleaning advice from ur accountant right?

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[Green&Clean]

Of course I would like your advice. After all this is what we are all here for - To learn from those that have "been there, done that". My accountant had already provided her input and now I wanted to hear from those in the industry. In this case I think you guys provided the "assurance" I was looking for. Thanks for the replies. I'm gonna go with S corp.

BTW: Ken, I love your truck. The Ford Transit Connect is the vehicle I'd like to purchase once I'm established. I'll only be using portables so it should work just fine. What do you think of it?

 

[boazcan]

LLC

There is a separate form your accountant will file to be TAXED as an S-Corp when forming/filing an LLC. If she doesn't know about this, find a different accountant.

 

[Ken Snow]

The guy who uses the Transit loves it. I also have a ton of gmc 1 ton vans. The transit is a nice mixed use vehicle for specialty work.

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[Green&Clean]

Yeah I'm just starting to see them on the road and I really like how they look plus I hear they are pretty good on fuel. So I think i'ts perfect for those who don't need the bigger trucks.