mark c gaither
I have a current business, it's a credit repair business, it's solely under me, but I'm currently taking a course on selling home and auto insurance that I want to include onto my current business, I was thinking about converting this business to a LLC but I'm not sure.. I'm trying not to go with incorporation the business, because it's subject to double taxation as a corp. what is your suggestion.. how should I set up this business knowing I have two separate business ideas that I want to consolidate under one company.
I think your question is a common one. You might find this website helpful: http://www.business.gov/register/incorporation/. It has information on the different forms of business entities and what each entails. Don't quote me because I'm not expert but the site says "you can can avoid double taxation (once to the shareholders and again to the corporation) by electing to be treated as an S corporation."September 9th at 6:53am