What Corporate Structure are you Running
- Thread starter JerseyGirl
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What's the benefit of a single-membership LLC verses a sole proprietorship? Just the liability issue?
I operate as a sole trader here in australia.. i pay tax as if im a regular everyday normal guy. Theres an entrepreneurs tax offset which reduces my tax by like 25% or some shit, and i deduct a lot i.e $200 a month for a ded server.
C-Corp, specifically did not want pass-through and a few other issues that meant C was better for me.
not necessarily, with the s-corp you just show that 100% of the stock is owned by you.
Taxes are easier to handle for an LLC. Especially single member. Handled similar to sole proprietorship.
Yes, I believe so but if it's anything like a corp, you will need a registered agent with a physical address
Absolutely, in certain states- and there is no shortage of Registered Agents around the country that will be only too happy to take your money.
I hold an LLC registered in DE (I live in Philly at the moment) and paid a Registered Agent to do my initial filing fees, because out-of-state'rs need to maintain a registered agent... though I knew I could do the business filing cheaper on my own, it'd be faster and I'd prepay for 12 months of registered agent fees by going through them.
That said... and the reason why I posted this poll in the first place... in order to conduct business in PA (e.g. open a business bank account, etc.) I have to be a "Foreign Qualified" business (e.g. give the PA State Department $250), then I have to keep my mailing address and physical addresses separate... because Philly may just be the most inhospitable place on earth to own a business (city business taxes are equal to what I'd pay the state, anyway)... just a giant pain in the ass.
Whoever said above that the fees add up (by registering in DE) wasn't kidding. If it was only money that would be one thing- but without having an accountant yet, I'm also responsible for making sure all of my banking, tax and legal ducks are in a row.
One quick tax tip:
If you generate any leads/sales from the UK or otherwise, you may be able to exclude that income using the foreign earned income exclusion. You could also set up a shell company overseas and have them pay you, which would make that foreign income as well.
Since we're on this topic: I don't know if any AM's do this, but it would be great to see companies get a decent accountant on payroll who could help streamline any of this nonsense. It would be one of those perks... instead of getting a flat-screen from Copeac, maybe they could give you an accountant for a week or something.
If you generate any leads/sales from the UK or otherwise, you may be able to exclude that income using the foreign earned income exclusion. You could also set up a shell company overseas and have them pay you, which would make that foreign income as well.
Since we're on this topic: I don't know if any AM's do this, but it would be great to see companies get a decent accountant on payroll who could help streamline any of this nonsense. It would be one of those perks... instead of getting a flat-screen from Copeac, maybe they could give you an accountant for a week or something.
LTD company - UK.. Always traded that way.
Not tax related, but I notice that I seem to have no problems getting accepted by aff networks at all, I always put my ltd company details. I suspect it probably helps by making me look more "serious".
On a side note, anyone in UK know a decent accountant? I need on that knows how to deal with US-based income from AM.
Not tax related, but I notice that I seem to have no problems getting accepted by aff networks at all, I always put my ltd company details. I suspect it probably helps by making me look more "serious".
On a side note, anyone in UK know a decent accountant? I need on that knows how to deal with US-based income from AM.
Throw a search up in yell or head to your town and find a local professional place?
I'm going LTD as well. I was hoping the LTD achieves that serious look as well. Was considering a virtual office as well so I can rejoin adwords.
Quick question, can I put COMPANY LTD or does it have to be COMPANY LIMITED?
There is no real advantage for becoming a C-corp unless you are about to sell your business. Stick to an LLC for all reasons of ease, taxes, annual requirements, etc.
S-Corp is good (that is what my company is), but only if you need stock, and if you do, S-corp's only allow for one type. For an LLC, you can still have partners, but you can control voting rights regardless of what percentage you give away or share.
S-Corp is good (that is what my company is), but only if you need stock, and if you do, S-corp's only allow for one type. For an LLC, you can still have partners, but you can control voting rights regardless of what percentage you give away or share.
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