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<p>[QUOTE="ratio411, post: 1226286, member: 26729"]Not sure how your state functions, but in my state you can LLC, without incorporating.</p><p>It's the best of both worlds, because for federal taxes you can declare your choice</p><p>of corporate taxes, self employed, or partnership (required if you are married and don't choose corp taxation).</p><p><br /></p><p>The biggest benefit of getting your LLC now is that you can claim all your expenses now as business</p><p>expense. If you spend a bunch of personal money now gaining inventory and such, it will be harder</p><p>to take those expenses 100% as business expense later. Also, you should be able to deal more</p><p>readily with wholesalers being able to prove you are a business.[/QUOTE]</p><p><br /></p>
[QUOTE="ratio411, post: 1226286, member: 26729"]Not sure how your state functions, but in my state you can LLC, without incorporating. It's the best of both worlds, because for federal taxes you can declare your choice of corporate taxes, self employed, or partnership (required if you are married and don't choose corp taxation). The biggest benefit of getting your LLC now is that you can claim all your expenses now as business expense. If you spend a bunch of personal money now gaining inventory and such, it will be harder to take those expenses 100% as business expense later. Also, you should be able to deal more readily with wholesalers being able to prove you are a business.[/QUOTE]
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