Home business options

10-12-2009, 03:46 PM

SomeGuy2009 SomeGuy2009 is offline

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Join Date: Aug 2009

Posts: 3

Home business options

My wife operates a small home based business in NJ.
The business has been doing well and we think it may be best to incorporate (or legalize) it?

I read some stuff on the internet and I am confused.

What is the best thing to do? (LLC, S-Corp, C-Corp ...)
Is a Sole Proprietors the way to go? (I'm thinking this may be it)

Her business makes less than $10,000 per year.
We have no intention of bringing in partners or going public.
We don't have a dedicated portion of the house for the business (so I am not even thinking about deducting part of the mortgage).

Thanks

Last edited by SomeGuy2009; 10-12-2009 at 04:48 PM.

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