Ask HN: What Type of Business Filing?

https://news.ycombinator.com/item?id=1946503

by bherms • 16 years ago

3 3 16 years ago

news.ycombinator.com

I have been working on a project for a while and am planning on launching soon. The project is a b2b SaaS web application (vague I know, but I'll give more info on here when I launch). I guess the right thing to do before launching is to file for a business entity. I'm not planning on seeking investment or bringing on any other employees or founders anytime soon. What type of business should I file for? What other advice do you have?

jeffmould• 16 years ago

I am not a lawyer or an accountant so my advice is limited. From the sounds of it, them simplest form would be to do an LLC. You can file an S-Corp election to have the taxes pass through and you will only have to file your personal taxes with a separate schedule for the business income/expenses.

The best advice though is to talk to an accountant and determine what is best for your particular tax situation.

camz• 16 years ago

You should file for an S-Corp. It provides the same tax benefits as the LLC and the liability protection but helps you save on self-employment taxes which equals 15.3%. If you feel like talking directly, just let me know.

You can look me up on hn office hours or email me directly at cameronkeng@thekenggroup.com

bherms• 16 years ago

I'll hit you up on there sometime this week. Thanks for the help!

Ask HN: What Type of Business Filing?

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