Question How do you operate legally (LLC, sole prop, partnership, etc.)?

Do you run your business as a

  • Sole Proprietor

    Votes: 1 100.0%
  • LLC

    Votes: 0 0.0%
  • S-corp

    Votes: 0 0.0%
  • Partnership

    Votes: 0 0.0%

  • Total voters
    1
I am an LLC. I wanted to separate me from my business for the state although in CA it costs an arm and a leg in taxes. I filed as soon as I had enough revenue from clients to make it worth it.:thumbsup:
 

vlr516

New Member
I am an LLC - S corp. "My accountant said that I am one of 2 clients that use that designation. It costs more to file as a S-corp each year but it is another step to keeping my personal and businesses assets separate.
 

VASbyBG

Member
This is information is so helpful as I am a newbie! I have my pen & pad & am readily taking notes.

To garycdewitt, hello my fellow Arkansan (PB here)! <3
 

Tanya Hill

New Member
I am just starting my business in Texas but being virtual I could accept work outside of the state, I was wondering do I also need a registered agent in that state. Also I was not sure if I should use myself as the Registered Agent or use a service. I was looking at Legal Zoom but their review did not look good. Any advise is greatly appreciated!
 
Since my husband and I are co-owners and co-founders, we're actually filed as a QJV (Qualified Joint Adventure), which is almost strictly a husband/wife venture. It was the brainchild of the IRS so that husband and wife could file jointly as a sole proprietor. Nobody else seems to have heard of it, but it was a good way to start out. My husband has a full-time job outside now, so the business is pretty much my animal now; I'm looking into refiling as an LLC.
 

Jennifer Cruse

New Member
Re: How do you operate legally?

Are you speaking as getting an actual corporation (inc.) or an LLC? The reason that I ask is that with an LLC you file an election with the IRS stating if you wish to be taxes as an S Corp or a C corp otherwise it defaults to a partnership (two members) or sole proprietorship (one member).

I am fortunate enough to have an aunt who is a CPA and after being a paralegal for 18 years, I have numerous attorneys at my disposal.
 
Right now I operate as a sole proprietor because the simplicity of forming the business and filing taxes. So far it works for me, but if my needs change I am open to changing the structure to LLC.
 
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