06-14-2018, 04:25 PM | #1 |
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Business Owners
Difference between forming an LLC, inc, or Corp?
This is the next move for this month on my road to entrepreneurship. I’ve done my research, I’d just like to get some more insight from people who formed any of those above first hand. End of the year I’ll be jumping into the real estate game and purchasing my first duplex/2 family home. NC, your boy out here working. |
06-14-2018, 04:29 PM | #2 |
(ง'̀-'́)ง
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What type of business? I have an LLC for my game company and have a little insight
@Diode probably would know best on this |
06-14-2018, 04:31 PM | #3 | |
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06-14-2018, 04:31 PM | #4 | |
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You're too small to incorporate and an S-Corp makes no sense in the real estate market as you carry a ton of liability and could be sued out of existence. Should only be a couple hundred dollars worth of lawyer forms.
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06-14-2018, 04:32 PM | #5 |
As-salamu alaykum!
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This the major differences have to do with TAXES and Business structure.
Like Corps have a set structure with a bunch of CHEIF's as where an LLC - that isn't needed. Privately owned business are typically LLC for legal matters. |
06-14-2018, 04:32 PM | #6 |
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06-14-2018, 04:32 PM | #7 |
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NEVERMIND ANYTHING I SAID, AMEN IS HERE WITH AN OPINION SO WHY DO ANY OF US EVER EVEN RESPOND????????
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06-14-2018, 04:34 PM | #8 |
As-salamu alaykum!
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You pretty much summed it up with the protecting of assets - LLC.
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06-14-2018, 04:35 PM | #9 | |
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But yeah, $807 worth of lawyer forms here in Illinois for the LLC is what I’ll be looking at, not to bad. |
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06-14-2018, 04:35 PM | #10 |
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06-14-2018, 04:37 PM | #11 |
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06-14-2018, 04:40 PM | #12 |
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Hey man good luck with this, get off dem streets make that legal money pimp
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06-14-2018, 04:41 PM | #13 | |
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06-14-2018, 04:46 PM | #14 |
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Probably true, he knows his shit.
I was just reading something on google that basically said the same thing he did. https://www.mycorporation.com/learni...orporation.jsp Pretty much has a break down for you. |
06-14-2018, 04:48 PM | #15 |
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I'm in stride to open a studio by the end of the year. That would be easier then a record label. You'll have to get distribution, and a tour route to even consider starting up a government recognized label. If you are going in on it with some people maybe just get the fictitious name for now and make sure your core group is ready to run a brand.
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06-14-2018, 05:01 PM | #16 | |
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please stop posting
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06-14-2018, 05:02 PM | #17 |
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LLC bro
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06-14-2018, 05:05 PM | #18 |
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I have a friend who started his own label
I think he went with an LLC Is your duplex going to house a studio? |
06-14-2018, 05:07 PM | #19 |
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dancake your tag isn't far off. it's one of them. though due to expire because it was incompatible with the FDA and also having a kid.
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06-14-2018, 06:26 PM | #20 |
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Yeah we just did an llc for protection of game asset shit. We only had 180 in form fees, but we got them from my buddies mom that owns a few local businesses so maybe lawyers would charge just to give them to you?
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illegal gun sales inc, jerky bois llc -diode |
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