LLC or S-Corp – What is the proper business type for you?

Posted on May 14, 2008. Filed under: finance, small business, startup | Tags: , , , |

When you open your own salon, you have to decide whether to be a sloe proprietor, an S-Corp or an LLC.  your accountant can give you more details on which is best for you, but you can get a general idea of what the different choices are in this article from Small Biz Survival.

When NOT to be a Sole Proprietorship: Forming an LLC or S Corp

Sole proprietorship is the simplest form of business, but it also has some disadvantages. So for this installment of the Small Biz 100, I’ll talk about some of the situations where you don’t want to be a sole proprietorship and what types of business you might want to form.
Note: All of this discussion is specific to small businesses in the USA.
Note 2: More info on when TO be a sole proprietorship is in the Checklists for starting your first business post.

Read the rest of the article here.

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2 Responses to “LLC or S-Corp – What is the proper business type for you?”

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Thanks for this article! I’m meeting with my accountant in less than a week to discuss this very topic, and now I feel even better equipped to ask the right questions. 🙂

Cheers,
Kristen

Happy to be of service!


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