WORLD Law Direct Forums  





Go Back   WORLD Law Direct Forums > Business & Finance Law > Starting a Business
REGISTER FAQ SEARCH Today's Posts Mark Forums Read
Personal Lawyer Legal Forms Calendar

Starting a Business Creating and operating a new business.

S-Corp vs. LLC tax question

Consult Your Own Personal Lawyer Now!
Reply
AddThis Feed Button
 
Thread Tools Search this Thread Rate Thread Display Modes
Old May 15th, 2008, 10:14 PM     #1
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Confused S-Corp vs. LLC tax question

Ok, all the information I'm finding is conflicting, so maybe someone here can help? I am buying commercial real estate with a salon/spa on the second floor of the building. I plan to run the salon myself, and will pull a very small salary while doing so. I want to structure the salon as one company, and a separate company to manage the building and lease the commercial space downstairs. I'm down to either S-corp or LLC, but understand LLC may choose to file taxes as S-corp. Can't find any info as to whether that can change on an annual basis, or must file as S-corp for certain period of time. The issue is this: we are starting with little working capital. The salon will pay rent to the management company, but cash flow is coming from salon in beginning, so funds may need to transfer for build-outs/repairs/etc. during the first year. Also, any profits outside of the salary I will pull from the salon will be reinvested. Can anyone suggest best structure for salon and management company to reduce tax rates based on this info?
  Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Add Forum to Google Toolbar | Format Your Messages

Posting Rules

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tax Question Unregistered Tax Issues 0 Oct 8th, 2008 10:39 AM
Joint Bank Account Death Tax Question bisqual Tax Issues 0 Sep 29th, 2008 06:38 PM
LLC and property question. Unregistered Starting a Business 1 Feb 7th, 2008 08:30 PM
S-corp question Unregistered Business Contracts & Partnerships 1 Apr 10th, 2007 11:02 PM
Divorce/Tax Question. Please help! Lydia Divorce, Separation, Annulment 1 Feb 12th, 2007 05:40 PM


All times are GMT -5. The time now is 09:22 PM.


Powered by U.S. Legal Forms

Subscribe

Use of the Forums is subject to our Disclaimer which prohibits unapproved advertisements, solicitations or other commercial messages, and false, harassing or abusive statements. All postings reflect the views of the author but become the property of WORLD Law Direct.

Questions and information submitted in the Forums are assumed inquiries for general information and not legal advice.

Copyright 2000-2008 by WORLDLawDirect.com, Inc.