T
texastrader
Guest
What is the name of your state? Texas
After a number of years of operating two separate businesses as sole proprietorship the wife and I feel it’s time to Incorporate. We would prefer to combine the two businesses into one operating unit. Using the main business as the operator of the lesser business. However not sure if Chapter S or an LLC would be better. It comes down to operating costs and tax benefits. Our Tax Accountant is saying go with LLC for both businesses and our Attorney is saying go with Chapter S and combine the businesses.
We don’t have any outside investors and no full time employees. We do use a part-time person on occasion and also some contract labor from time to time.
Thoughts, Suggestions, Appreciated.
After a number of years of operating two separate businesses as sole proprietorship the wife and I feel it’s time to Incorporate. We would prefer to combine the two businesses into one operating unit. Using the main business as the operator of the lesser business. However not sure if Chapter S or an LLC would be better. It comes down to operating costs and tax benefits. Our Tax Accountant is saying go with LLC for both businesses and our Attorney is saying go with Chapter S and combine the businesses.
We don’t have any outside investors and no full time employees. We do use a part-time person on occasion and also some contract labor from time to time.
Thoughts, Suggestions, Appreciated.