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Consulting - LLC or S corp?

 
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For an independent contractor/consultant to form his/her own corp? Which would be better LLC or "S" corp? Also has anyone tried incorporating via the web by using the websites: -

LegalZoon
Incorporate
MyCorporation
[ August 18, 2005: Message edited by: John Wolf ]
 
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Originally posted by Sumit Sadana:
For an independent contractor/consultant to form his/her own corp? Which would be better LLC or "S" corp? Also has anyone tried incorporating via the web by using the websites: -

LegalZoon
Incorporate


Cheers!~
Sumit



Incorporating without seeking legal advise is a very bad idea. You need a lawyer who is familiar with the options available in your jurisdiction and their relative merits.
 
John Wolf
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I was under the impression that you don't need a lawyer to incorporate. You do however need a good accountant after you incorporate.
[ August 18, 2005: Message edited by: John Wolf ]
 
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You don't need a lawyer to incorporate, that's true. You don't need a lawyer to defend you if you're accused of a crime, at least in most part of the US.

Listen to Peter. Don't be a fool. Get professional legal advice.
 
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Originally posted by Michael Ernest:
Listen to Peter. Don't be a fool. Get professional legal advice.



I think professional accounting advice would be better. Generally speaking, in the US if you want to self-incorporate an S corp will have fewer accounting hassles than a full LLC.

An accountant can give you a good picture of the financial implications, which for 99% of folks wishing to incorporate will be the most important. If you have a liability concern, I am sure he or she can steer you to a good attorney.

Cheers!

Luke
 
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Originally posted by Michael Ernest:
You don't need a lawyer to incorporate, that's true. You don't need a lawyer to defend you if you're accused of a crime, at least in most part of the US.

Listen to Peter. Don't be a fool. Get professional legal advice.



+1. My brother-in-law is a corporate lawyer. I would never even consider incorporating without his or another lawyers advice. That's not to say advice from a CPA is not needed. It's important for both.
[ July 25, 2005: Message edited by: Gregg Bolinger ]
 
John Wolf
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Thanks everyone for your advice, opinions and suggestions. I also found this website that proved very helpful: -

http://www.stephenlnelson.com/incorporate_your_business.htm
[ August 18, 2005: Message edited by: John Wolf ]
 
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