Comments on: Step 6: How to Decide– S Corporation or LLC?

By: Rob Northrup

Rob Northrup — Sat, 01 Nov 2008 17:40:10 +0000

Scott, I sent you info to sign up as an affiliate. Thanks for asking.
Rob

By: Scott Bell

Scott Bell — Sat, 01 Nov 2008 15:16:58 +0000

Rob, You make things so clear and simple. Do you have n affiliate program set up for your product? Scott The Road Warrior Travel Insurance

By: Lisa McLellan

Lisa McLellan — Sat, 01 Nov 2008 04:00:05 +0000

If you say S-corp is the way to go, I'll take your word on it! Babysitter, Nannies, and Au-pairs

By: Rob Northrup

Rob Northrup — Sat, 01 Nov 2008 02:53:51 +0000

David, that’s good that you talked to an accountant. They must have had a reason. maybe there is something about your situation that suits an LLC, or maybe it is a state issue… what state are you in? having to pay payroll taxes on all profits would have cost us quite a bit over the past ten years and we pay relatively high salaries to make sure we don’t get in trouble. If we wanted to be more aggressive we could, but I prefer to be safe.

Rob

By: Jennifer Skinner

Jennifer Skinner — Sat, 01 Nov 2008 00:02:56 +0000

Rob, You had me convinced a long ways back that an S-Corp is the way to go. Thanks for the clear description of the differences. Jennifer Skinner Wardrobe Planning>

By: David J. Parnell

David J. Parnell — Fri, 31 Oct 2008 23:18:48 +0000

Rob, we did indeed make our decision based on what our accountant told us.... David J. Parnell | Communication Expert Communication Expert Blog

By: Rob Northrup

Rob Northrup — Fri, 31 Oct 2008 22:37:07 +0000

John,

If I’m gonna read about Numerology you aren’t excused from reading about American corporate law…

Rob

By: John Ho

John Ho — Fri, 31 Oct 2008 21:48:33 +0000

I suppose the difference between US & Australia’s business law is big enough for me to excuse myself reading this post in details.

But for those who’re in USA, go for it & use what you can learn here.

John Ho
Pure Numerology

Understanding Personalities for Better Influence & Persuasion

By: Intuitive John

Intuitive John — Fri, 31 Oct 2008 21:29:15 +0000

This was very clear and easy to understand. Hard numbers work for me.

And you cleared up something for me…i considered an LLC and S corp the same. No longer.

Intuitive John

By: Rob Northrup

Rob Northrup — Fri, 31 Oct 2008 21:16:05 +0000

Lena

Both the corporation and the LLC protect personal assets if the proper things are done…

re LLC->S Corp conversion, see answer above… you can’t change the LLC right into an S Corp but you can accomplish the same thing pretty easily…
Rob

By: Rob Northrup

Rob Northrup — Fri, 31 Oct 2008 21:14:06 +0000

It isn’t possible as far as I know to change. You just need to close the LLC and start a Corporation. Step 7 tomorrow is going to explain the steps to start a Corporation. Dissolving an LLC is not too difficult, talk to your Accountant first.

Rob

By: Cindy Eyanson

Cindy Eyanson — Fri, 31 Oct 2008 20:36:28 +0000

Wow! I did not know that. I always thought the LLC was the best route tax and protection wise. GREAT post! Thank you! Cindy Cindy Eyanson Online

By: Lena

Lena — Fri, 31 Oct 2008 19:28:40 +0000

It's seems like it's a good idea S corp.,I always tought LLC is more safe as it doesn't involve personal belongings if things go wrong.That's the reason why people who do it for the first time choose LLC.A good q-n was asked,can you switch from LLC to S corp? Improving Communication in Business and Personal Life body language post

By: Robert Kaufer

Robert Kaufer — Fri, 31 Oct 2008 18:06:49 +0000

I will look at it again and drill down a bit more and send comments off line

By: Michael Roth

Michael Roth — Fri, 31 Oct 2008 16:36:50 +0000

great post! thought provoking thanks

By: angela

angela — Fri, 31 Oct 2008 15:44:09 +0000

good explanation, it cleared a few questions i had about the difference between llc’s and s corps.
angela
reactivating life energy

By: Jennifer Battaglino

Jennifer Battaglino — Fri, 31 Oct 2008 15:37:54 +0000

Rob
Great post and it explains it better than I have heard in the past. So many times we make decisions based on what some one tells us what to do without the knowledge ourselves.
Thanks
Jennifer Battaglino

By: Matthew Shields

Matthew Shields — Fri, 31 Oct 2008 15:35:02 +0000

Hi , Rob The big deciding factor… to LLC or to S corp…Thanks for breaking it down in such an easy to understand Way Happy Trails Matthew Shields Hotel Resort Energy Management Wireless Systems Anything Solar

By: Susan

Susan — Fri, 31 Oct 2008 15:13:44 +0000

Can you change from an LLC to an S Corp if you feel at some point that you made an error in judgement?

By: kevin

kevin — Fri, 31 Oct 2008 14:47:37 +0000

great analysis
kevin
http://www.kevinhogan.com/blog

By: Steve Chambers

Steve Chambers — Fri, 31 Oct 2008 13:07:11 +0000

This was a decision I struggled with greatly before deciding to become an S Corp. Great post. Steve Persuasion Techniques & tips

By: Rob Northrup

Rob Northrup — Fri, 31 Oct 2008 12:54:39 +0000

Hey DIY Lawyer,

Did I miss any really important points here that need to be addressed?

Rob

By: DIY Lawyer

DIY Lawyer — Fri, 31 Oct 2008 12:09:41 +0000

Great Post Rob, This is a question I get daily. Learn How to Be A Do It Yourself Lawyer Essential Daily Nutrients For Your Health