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what should I register my business as, sole proprietorship, limited liability company, etc?

January 23rd, 2011 Leave a comment Go to comments

I am an internet based computer repair/parts company, what would you recommened registering my business as? I hope to one day sell the business or hire additional employees. Right now it is only me, I pay taxes for myself and my business.

CONSULT AN ATTORNEY!! i own a business, and have no employees, but the attorney will know exactly how to register it so you get the most tax breaks and the best perks. DO NOT DO IT YOURSELF!!!!!!! you can seriously screw yoursel!

  1. chestnutlocs1
    January 23rd, 2011 at 19:13 | #1

    Maybe http://www.irs.gov could help you figure out which category would be best for you and your business. Good luck!
    References :

  2. nicklaus
    January 23rd, 2011 at 19:21 | #2

    I would suggest if its still a small business go and register it first as a single proprietorship, you can incorporate the single proprietorship business later on if your business has grown to a certain extent.

    Though the most logical thing if you are looking at the long term already to register it as a corporation but that would require alot of legal and financial aspect. You need to deposit with your depository bank equal to 25% of your Capital stocks. You need to find partners at least 4 other person inorder to register it as a corporation, you have to go to the SEC to register, secure forms, have it notarized and you need to get a certification from the depository bank of the amount you’ve paid up before the final processing of your registration. Its a tedious process.

    My advise is go for the single proprietorship first then decide later on to go for the big time.
    References :

  3. Jamie F
    January 23rd, 2011 at 19:56 | #3

    CONSULT AN ATTORNEY!! i own a business, and have no employees, but the attorney will know exactly how to register it so you get the most tax breaks and the best perks. DO NOT DO IT YOURSELF!!!!!!! you can seriously screw yoursel!
    References :

  4. jec0620
    January 23rd, 2011 at 20:38 | #4

    my best advice would be to contact a tax accountant. they would be able to advise you on how to form the company.
    References :

  5. red260z
    January 23rd, 2011 at 20:49 | #5

    If you register as a company you ensure that if something goes wrong and you get sued it’s the company and not you personally that loses money.
    I registered my company just for peace of mind and to ensure I can never lose my home!

    Good luck with it all 🙂
    References :

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