Re: LLC or Corp - Posted by Tim
Posted by Tim on February 22, 2001 at 16:16:10:
I have an LLC and my CPA told me it’s better to be an LLC than a CORP. If I can remember correctly, he told me if I have a CORP., then the only way to get money out of that CORP. would be a salary. Which means you have to cut yourself a check which then means you have to take taxes out again. The bottom line … you’re taking more taxes out as a CORP than as an LLC. The LLC gives you just as much protection as a CORP. Plus, every year when you do your taxes, it will take your CPA longer (which means more fees) to do them because there’s more paperwork to file.
I hope this helps. Good luck.