Re: [entrepreneurs] LLC vs S Corp?

There is not much difference between an LLC and an S corp for most small businesses (LLCs can typically elect to be taxed as an S Corp, i.e. no tax at the business entity level etc). Legally, some say that LLCs, as a newer phenomenon, have less case law and could be more risky than the Sub S. It might be a good idea to keep both businesses as separate entities (and perhaps avoid creating any parent sub arrangement) so that risk for one business would be removed from assets of the other.

"~Jenn, MUIB Founder~" <momsunited@msn.com> wrote:

I am seeking personal opinions on which avenue to take. We have consulted with an accountant and have a meeting scheduled with an atty, but we are finding the answer depends on who you ask.

I run an online organization, that I am going to be making a legal business entity and wish to expand locally. My husband and I, through local networking efforts are also in the process of starting an online ad business locally, as there is a need here. More and more people are seeing the benefits of networking and advertising online on a local level.

I am unsure which option to choose, an LLC or S Corp? I would prefer to find a way to run both businesses together instead of having to manage two separate businesses. Is this possible? Some have suggested using my organization as the parent company, and the local business as an "umbrella" company.

The more research we do, the more confused I become, and I can't figure out the best way to go about this.

I understand that any responses are opinions only, but just seeking out those that have experience in this area.

Thanks so much!

Jennifer Rogers
Founder Moms United in Business

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