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I am not an attorney and this is not legal advice, but why anyone would go S corp is beyond me.
LLC is easy enough you can file with your personal taxes and have full corporate protections. LLC might be a problem down the road such as if you want to franchise or go public , but that is likely not happening anyhow - or if it did happen you will be rolling in the dough to correct the corporate resolution anyhow.
LLP could have other tax reasons varies by state, which might be worth exploring.
For me - if you are running a business it should be it's own legal entity and stand on it's own merit.
You can start as an individual, pick up some E&O and incorporate LLC or INC down the road. Remember when you form a "company" the company needs to be licensed, and you need to get appointments setup again (i.e. time consuming, fees, and PITA).
The decision really boils down to what you are trying to accomplish - which is usually two items PROTECTION OF PERSONAL ASSETS or TAX REASONS.
Short answer - go sit down with a CPA. If you can not afford one setup a meeting with SCORE , which is under the SBA and is FREE retired executives that help. You can pull it off the SBA website.
LLC is easy enough you can file with your personal taxes and have full corporate protections. LLC might be a problem down the road such as if you want to franchise or go public , but that is likely not happening anyhow - or if it did happen you will be rolling in the dough to correct the corporate resolution anyhow.
LLP could have other tax reasons varies by state, which might be worth exploring.
For me - if you are running a business it should be it's own legal entity and stand on it's own merit.
You can start as an individual, pick up some E&O and incorporate LLC or INC down the road. Remember when you form a "company" the company needs to be licensed, and you need to get appointments setup again (i.e. time consuming, fees, and PITA).
The decision really boils down to what you are trying to accomplish - which is usually two items PROTECTION OF PERSONAL ASSETS or TAX REASONS.
Short answer - go sit down with a CPA. If you can not afford one setup a meeting with SCORE , which is under the SBA and is FREE retired executives that help. You can pull it off the SBA website.