LLC, S-Corp, Sole Proprietor

[Wes]

I'm in the process of setting up a meet with a financial advisor who will, hopefully, help me set up my business. Just out of curiosity, how many of you incorporated yourself as an S-Corp, LLC, or Sole Proprietor. What were your reasons for going the route that you did?

[Daniel Bates]

I haven't set up yet but I'll be a sole proprietor when I do.

[kachina]

Wes,

We covered business structure when I was working on my MBA. I learned enough to answer your question in the following manner:

1. Prepare a business plan to decide where you want your business to go.
2. Consult good CPA with start-up experience.
3. Consult good attorney with start-up experience.

Your business structure depends on your business plan, personal goals, and how you finance your business. I'm sure lots of folks can give you great advice but the experts will save you a lot of money and headaches in the long-run.

You mentioned that you are meeting with a financial adviser - make sure he/she has a lot of experience with start-ups. There are many creative ways to save $$$ when you are getting cranked up if you get the right advice.


Just my two cents. Best of luck with your new venture.
Rusty

[Wes]

Thanks Rusty. I appreciate the feedback.

The financial advisor that I'm meeting with has helped a few other photogs start their businesses, so his experience is very pertinent to what I want to do.