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[Question] How do you operate legally (LLC, sole prop, partnership, etc.)?
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View Poll Results: Do you run your business as a
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Sole Proprietor
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109 |
60.22% |
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LLC
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54 |
29.83% |
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S-corp
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12 |
6.63% |
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Partnership
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6 |
3.31% |
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07-12-2010
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Contributing Member
Company name: Alyssa Avant & Company
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Join Date: Apr 2010
Location: Carrollton, MS
Posts: 114
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How do you operate legally (LLC, sole prop, partnership, etc.)?
Just curious about this. Thanks for taking the poll.
Last edited by adavant; 07-12-2010 at 07:59 AM.
Reason: put poll in instead.
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07-12-2010
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Community Leader
Company name: Lee Drozak Biz
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Join Date: Aug 2008
Location: Western Pennsylvania
Posts: 3,223
Blog Entries: 13
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Re: How do you operate legally?
Alyssa,
I operate as a sole proprietor. However, I am starting another company that will a LLP as three will be three partners and we felt this was the best route for us to go legally. I looked into making My Office Assistant an LLP but for now I will leave it as is and let me accountant decide when I should make the move.
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Lee Drozak
WHY GO IT ALONE?... I am here to help you get unstuck.
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07-12-2010
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New Member
Company name: BreemanRhodes Consulting
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Join Date: Aug 2009
Location: Falls Church, VA
Posts: 14
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Re: How do you operate legally?
I have been working at a sole proprietor for several months now, but looking into the filing of an LLC. I am trying to figure out a budget for those costs.
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07-13-2010
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Founder, Virtual Assistant Forums
Company name: Virtual Assistant Forums
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Join Date: Apr 2007
Location: Portland, OR
Posts: 9,806
Blog Entries: 38
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Re: How do you operate legally?
We (my husband/biz partner and I) are a Limited Liability Partnership, similar to LLC but two of us instead of one 
There's another poll with a smiliar question here.
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07-14-2010
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New Member
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Join Date: Jun 2010
Posts: 33
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Re: How do you operate legally?
I haven't gotten that far yet, but would definitely think an LLC would be a good choice for me.
__________________
Kimberly
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09-23-2010
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Contributing Member
Company name: Appreciation A Business Outsource Agency
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Join Date: Mar 2009
Location: Wisconsin
Posts: 65
Blog Entries: 1
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Re: How do you operate legally?
Just wanted to quickly recommend a site for operation.
http://www.incsmart.biz they operate out of Las Vegas, NV
I have spoken with David and Michael and I do know they are currentlly seeking a Registered Agent for the state of IL if anyone is interested?
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09-25-2010
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Junior Member
Company name: Deb's Professional Services
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Join Date: Jun 2010
Location: Las Vegas NV
Posts: 481
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Re: How do you operate legally?
Here I go showing my stupidity - but I am in Illinois and gotta ask... Registered Agent?
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10-13-2010
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New Member
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Join Date: Sep 2010
Posts: 39
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Re: How do you operate legally?
For liability purposes we counsel all our clients to at least consider an LLC (and get good insurance coverage).
However what most of our clients don't understand is that an LLC is not a recognized tax entity and unless otherwise timely elected to be taxed as (for instance) a Subchapter S Corporation they will in fact default (under state law) to be taxed either as sole proprietor (if a single member LLC) or as a partnership (if a multi-member LLC).
Since there are advantages and disadvantages to all entity types we also counsel all of our clients to seek competent legal counsel.
That being said we've found an LLC to generally be the most flexible business type for our small business clients as they can make elections to change the recognized tax status as their business grows and changes.
Leslie
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10-13-2010
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Contributing Member
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Join Date: Oct 2010
Posts: 55
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Re: How do you operate legally?
LLC has worked for me in my jewelry business and will most likely use LLC for my VA business
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10-18-2010
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Junior Member
Company name: Deb's Professional Services
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Join Date: Jun 2010
Location: Las Vegas NV
Posts: 481
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Re: How do you operate legally?
fyi - I am new IL Registered Agent via http://www.incsmart.biz I got my first client (based in Idaho) the other day from them. Thanks Kathy!
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