sole proprietor/partnerships or corporations

[steffysmom 14]

Just curious to see how many pressure washers are sole proprietors, how many have a partnership formed etc. Iin your minds, what are the pros/cons of each ?

[Mark Williamson 14]

LLC. Tax reasons

[Celeste 341]

Partnership LLC - started that way by accident, stayed for paperwork purposes but accountant is changing us to Corp.

Celeste

[Jeff 232]

I'm Corp. Talk to an accountant that deals with construction / service companies, Theres specific reasons why mine didt want us LLC and he said LLC wouldnt be a good choice especially as we get larger as a company. Theres alot of benifits Im told to being Corp instead of LLC according to my accountant. What Im not sure but but thats why I hire him,

[Beth n Rod 1,279]

"S"Corp.

Keeps us protected in many ways. Sole proprieterships are very vulnerable.

Rod!~

[mikew 14]

My business is setup as a C Corp.

Mike

[Jeff 232]

I am also S Corp

JL

[Specialized 14]

What is S Corp and C Corp?

[bforbis 14]

Currently SOle P, have accountant working on changing that very soon. Not sure where it will fall, but need to be sure to protect myself and assets, as well as tax purposes.