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Should I get a LLC?

Discussion in 'Business & Tax Advice' started by wbgeraff345, Jun 26, 2009.

  1. wbgeraff345

    wbgeraff345 Newbie

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    Hi,

    I live in California and have been signing up to CPA networks as a Individual. I would like to forum an LLC to protect my personal assets in the future. (just starting out) Been thinking about also building websites for local businesses and offering hosting. I am thinking that I should forum an LLC first before offering this serves, right? From what I have heard California makes up pay high tax fees for doing business here as an LLC. Anyone have any advise one what my options are? The high California tax fees have made me think twice about forming an LLC here.
     
  2. conjug8

    conjug8 Newbie

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    Yes you SHOULD get an LLC or S or C corp for all of your business needs.

    I don't know which one is right for you but there is some great info here...

    Code:
    http://incorporateabusiness.info
     
  3. innocent

    innocent Junior Member

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    As far as the fees, yes, in California your LLC or S Corp will cost you $800 per year in tax. That is before you earn a dime. The one bright spot is that your first year is a freebie. Meaning, if you filed for the LLC or S Corp now, you wouldn't owe that $800 tax for 2009...your first taxable year is 2010. If you wait and file on January 1st of 2010 (since your just starting out) you won't owe the tax until 2011.
     
  4. wbgeraff345

    wbgeraff345 Newbie

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    Thanks for the info innocent. Didn't know that.
     
  5. hustler

    hustler Newbie

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    so is he still trustable since he's an ex vip ?
     
  6. anonymousartisan

    anonymousartisan Registered Member

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    Get an LLC. It's cheaper. Don't get a C or an S corp. They double tax you, instead of just taxing the income once.