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Right time to Incorporate?

Discussion in 'Business & Tax Advice' started by bugmaster, Nov 30, 2015.

  1. bugmaster

    bugmaster BANNED BANNED

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    I have a couple business, and I am thinking of bringing them under one Umbrella. What would be the best way to do this?

    I was thinking one Parent Company and INC, and for the individual companies LLC's owned by the INC.

    Or Should I just have each company incorporated on its own without a parent company?

    What would be better for Taxes in the US?
     
  2. sashablack

    sashablack Elite Member

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    for Taxes, I would do individual companies :) So just in case something goes wrong it does not effect everything else! just my 2 cents :)

    -Sasha
     
  3. bugmaster

    bugmaster BANNED BANNED

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    Thank you for the reply I appreciate it, although would it be better to incorporate at Corporations or LLC's?
     
  4. richestmaninbabylon

    richestmaninbabylon Junior Member

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    It's really a case by case situation based on your personal preferences.

    If you want to get money directly from your company, and only be taxed once than choose an LLC. Or, you can choose the "S-corp" route and have the best of both worlds.

    It's always best to ask a professional, they know hidden maneuvers to cover you for any situation...

    Here's an article which might help.
    http://www.entrepreneur.com/article/238844