Where can i find layman's info on whether I should be an S corp, C corp, or LLC for my new construction biz?

"Layman's info" is the key. I'm not real savvy with the technical jargon and tax implication details, so a "for dummies"-type website would be helpful. Thanks.

Where can i find layman's info on whether I should be an S corp, C corp, or LLC for my new construction biz?
Try www.score.org


There is alot of free information available to address alot of the questions and situations encountered by new business owners.
Reply:There are many good web sites out that cater to us laymans! I have set my company up as a sole propietorship, but am working on moving to an LLC.





Check out:


www.entreprenuer.com


www.businesstown.com


www.sbinformation.about.com/od/bizoppo...


www.irs.gov/businesses/small/article/0...


www.inc.com/guides


www.startupnation.com





This will keep you busy for awhile. Search for LLC...and you'll get great info.





Good luck.





Robin Jones Gifford


www.groups.yahoo.com/group/springboard...


www.springboardforsuccess.com
Reply:I'm not an attorney and that's who can really answer this question, but as a small biz owner, here's what I can tell you. I think(again verify this info) that a lot of people are going with LLC because it gives you the advantages of a corporation, but I think you file your return for the biz on a normal 1040 form. I think an LLC gives you limited liability like a corp but doesn't require a separate tax return like a corporation.





Corporations require board members and regular meetings, etc, but the assets of certain types of corps are separate from your assets which is where the limited liability comes from.





Check with your acct and attorney for specific details.