This morning, I wanted to make some progress on deciding on what type of incorporation I want to pursue for my new business. I spent time looking at
- Attorney, Stephen Fishman. Working for Yourself: Law & Taxes for Independent Contractors, Freelancers & Consultants. 7th ed. NOLO, 2008.
- Weiss, Alan. Getting started in consulting. Getting started in. Hoboken, N.J.: J. Wiley, 2004.
- Pakroo, Peri. Small Business Start-Up Kit for California. 7th ed. NOLO, 2008.
My current conclusion: yes, incorporate, but I will need to consult an accountant and an attorney to figure out which form to establish. Factors that will play a role:
- which is the best for a small business starting out — I don't want too much overhead
- we need to be able to move between CA and PA
- we need a way to handle health insurance issues
- we need room for growth
- how does business insurance figure in the mix
It's worth studying Fishman more closely to understand the tax differences between LLC, S, and C.
Post a Comment