How many of you are LLC's. or DBA's?

[cdent]

There are many unique situations, but there are potential benefits to a regular corp. or an S corp. over an LLC. I believe some accountants like to set up LLC's because it's simpler and takes less time, but it may be worth the time to discuss the pro's and con's.

Good luck with it, Craig

[rthibeau]

I have a degree in accounting........Corporations, S Corps, LLC's etc, are usually tax accounting devices...if you are a one man shop, it doesn't really matter what type you use for liability purposes...they will sue the corp, company, shop, you the individual, and anyone else whose name they can find. So you have the question of tax savings..if any...and liability issues...2 distinct issues. For a one man shop, if you are extremely profitable, tax issues are more important than liability. For liability, do good work and consult the firm of Smith, Wesson, and Winchester.

and that is said only Very Slightly tongue in cheek

[arftist]

The problem with the corp owning (buying) equipment, is that the equipment is/are then assets wich could be attached. The whole point is that the corp is only liable to the extent of it's assets. In my state, I can build (manufacture) any thing I want, with no insurance, but if I go to a jobsite to install it, I need liability ins.

[Chris Pook]

Nothing says the corp needs to own the equipment They can always pay you to use your equipment to make the items they sell and design.