How many deals before a Corp. or LLC?

How many deals or how much money can one make before starting a Corp.?

Many people seem to say "Just get some deals under your belt first, then worry about the Corp. or LLC"

Sheesh, I don't want to jump in the water without looking for the sharks first!!!

Any suggestions?

Comments(2)

  • Vern13th November, 2002

    I guess people tell you this because there are so many other things to worry about when first starting out in REI. I think one can start the LLC or Corp at the first purchase. The LLC is mainly a protection against someone sueing you and getting your personal property tied into the suite as well. S Corps offer the advantage of tax breaks, discount loans and even government bail outs.
    The cost of the average LLC is $250. The S Corp is a few dollars more around $500.
    The S Corp requires a lot more book keeping, where as the LLC is very simple to manage. There you go now you can better answer your own question.

  • 13th November, 2002

    Thanks Vern,

    Obviously asset protection is my biggest concern at this time.

    Appreciate the response.

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