What is your Business Structure? Help!?!

MegaC · 19th Jan 2012, 08:51 AM

For those that are doing Mobile Text Marketing services with your local business, what is your business structure (LLC, sole proprietorship, corporation, etc?) If you're sole proprietoriship did you have to register your business name? I'm looking to start this up but having a hard time deciding which one is best. Any advice would be appreciated!

uniquecontentclub · 19th Jan 2012, 08:52 AM

You need to speak with a qualified CPA. They can tell you the pros and cons of all your options, including which one will help you save on taxes.

toodise · 19th Jan 2012, 09:45 AM

Mega C,
if you are serious about your business and are starting to make some money then yes it is time to create a business structure... if you are not quite there yet then you can wait a bit.. you can set up a c corp or llc online in a few mintues with a number of websites but you should talk with an attorney or do a ton of research online to see if you would rather do an llc or C corp or even an S corp... I have started several companies and I would do either the c corp or llc if you are going to have a real business and not just a hobby where you make some money... Legalzoom.com is where you can set up a company online but talk to an attorney first and/or a really good CPA.. both will have an opinion on which way to go... Enjoy the journey.

Mike

MegaC · 19th Jan 2012, 10:18 AM

Originally Posted by uniquecontentclub

You need to speak with a qualified CPA. They can tell you the pros and cons of all your options, including which one will help you save on taxes.

Thanks for the tip!

Originally Posted by toodise

Mega C,
if you are serious about your business and are starting to make some money then yes it is time to create a business structure... if you are not quite there yet then you can wait a bit.. you can set up a c corp or llc online in a few mintues with a number of websites but you should talk with an attorney or do a ton of research online to see if you would rather do an llc or C corp or even an S corp... I have started several companies and I would do either the c corp or llc if you are going to have a real business and not just a hobby where you make some money... Legalzoom.com is where you can set up a company online but talk to an attorney first and/or a really good CPA.. both will have an opinion on which way to go... Enjoy the journey.

Mike

Mike, thanks for the info and resource. I'm researching now, but just wanted to see what others are doing. Thanks again!

ryanmckinney · 19th Jan 2012, 03:03 PM

Partnership agreement with an LLC (3 of us)

Building the company from the ground up -

Ryan

rocky80 · 19th Jan 2012, 06:33 PM

Mike if you have three members in your group you set it up as a limited partnership that way if you want to buy somewhat out or if someone wants out its easier to handle. Roc

19th Jan 2012, 08:51 AM	#1
MegaC Active Warrior War Room Member Join Date: 2011 Posts: 90 Thanks: 12 Thanked 31 Times in 6 Posts	What is your Business Structure? Help!?! Share on: For those that are doing Mobile Text Marketing services with your local business, what is your business structure (LLC, sole proprietorship, corporation, etc?) If you're sole proprietoriship did you have to register your business name? I'm looking to start this up but having a hard time deciding which one is best. Any advice would be appreciated!

19th Jan 2012, 08:52 AM	#2
uniquecontentclub Active Warrior Join Date: 2011 Location: United States Posts: 47 Thanks: 0 Thanked 3 Times in 3 Posts	Re: What is your Business Structure? Help!?! Share on: You need to speak with a qualified CPA. They can tell you the pros and cons of all your options, including which one will help you save on taxes.

19th Jan 2012, 09:45 AM	#3
toodise business builder War Room Member Join Date: 2011 Location: seattle Posts: 22 Thanks: 13 Thanked 3 Times in 3 Posts	Re: What is your Business Structure? Help!?! Share on: Mega C, if you are serious about your business and are starting to make some money then yes it is time to create a business structure... if you are not quite there yet then you can wait a bit.. you can set up a c corp or llc online in a few mintues with a number of websites but you should talk with an attorney or do a ton of research online to see if you would rather do an llc or C corp or even an S corp... I have started several companies and I would do either the c corp or llc if you are going to have a real business and not just a hobby where you make some money... Legalzoom.com is where you can set up a company online but talk to an attorney first and/or a really good CPA.. both will have an opinion on which way to go... Enjoy the journey. Mike

19th Jan 2012, 03:03 PM	#5
ryanmckinney Advanced Warrior War Room Member Join Date: 2011 Location: South Carolina Posts: 592 Thanks: 450 Thanked 338 Times in 219 Posts	Re: What is your Business Structure? Help!?! Share on: Partnership agreement with an LLC (3 of us) Building the company from the ground up - Ryan

19th Jan 2012, 06:33 PM	#6
rocky80 Active Warrior War Room Member Join Date: 2008 Posts: 58 Thanks: 20 Thanked 4 Times in 4 Posts	Re: What is your Business Structure? Help!?! Share on: Mike if you have three members in your group you set it up as a limited partnership that way if you want to buy somewhat out or if someone wants out its easier to handle. Roc