LLC or S-Corp???

[Hiro]

I need legal advice about my small business. I am a Green Card holder running a self-employee business, living in New Jersey and planning to move to Manhattan next month.
I have been considering that I have to change the type of my business in order to protect my liability because I am selling imported skin care products. I have asked 4 accountants about this matter; however, I was said an LLC is best by 2 of them and an S-corp is best by others.
My husband and I will be a president and a vice-president of my new company in New York City, and I won't be planning to hire someone. The gross income of my self-employee business is about $5,000 / month. Which type is appropriate?
Please help me!!!

Hiro

 

[loku]

The reason you got two different answers is that both forms would probably fit your needs. The taxation is the same on both. The difference is that the LLC takes less formality to form and to maintain. Most likely it would be the best choice because of that.

I would recommend you read the FreeAdvice material at http://business-law.freeadvice.com/starting_a_business/ and the IRS material, which contains much more than just tax topics, at http://business-law.freeadvice.com/starting_a_business/. Both of these discuss the forms of business.