Small Business Taxes

Resources and nformation about small business and self employment taxes.

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Old 01-05-2009
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Default Llc, ltd.......
So which is the best type of legal business to have for VAs. I am a little new to this and since it is more complicated here in the US with taxes and all, I need some help in knowing if I should be LLC.....

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Old 01-06-2009
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Default Re: Llc, ltd.......
I chose LLC because it DOES limit your liability. However, there are pros and cons for LLC, sole proprietor, etc. Try searching the forum for LLC and you will find LOTS of discussions on this subject (including a chat session I moderated called LLC Basics).
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Old 01-06-2009
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Default Re: Llc, ltd.......
Thank you!!! I will definitely look for that one forum!
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Old 01-06-2009
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Default Re: Llc, ltd.......
Be sure you look into your state tax issues with regards to the business type you start. I know CA has weird tax issues with some business forms.

According to the attorney's I've talked with LLC etc. can LIMIT your liability but they don't get rid of it completely so the costs can be more than the legal protection you may get.
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Old 01-07-2009
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Default Re: Llc, ltd.......
Thank you Lanel, I will get into the secretary of state website and do more research on it.
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