Quick question about incorporation

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ExSlatkis

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Dec 16, 2007
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Hello, Im new here to the forum and so far i really like what i see. I have a few questions about incorporation for all of you that do big with affiliate marketing.


I own a couple of websites and do some affiliate marketing, all together i make about 700-800k/year in income profit wise before any expenses. I am seriously thinking about incorporating for the 2008 year and just have a few questions.

Is it best to go with a S-Corporation or a LLC? Ive read a lot about both but not sure what is best for online businesses. Like i said, I just run a couple of websites and make money off adsense, etc. and do some affiliate marketing with adwords.

I would like to hear your input as soon as possible so i can go ahead and incorporate asap! :)
 


Talk to a lawyer and/or accountant. Do not ask tax/legal advice from computer nerds.
 
Talk to a lawyer and accountant, but I can say that you should be heavily leaning towards s-corp rather than LLC (or you could do an LLC that is taxed as an s-corp, but this is why you should spend $500 on a lawyer to do this) at your level of income.
 
Accountant

The lawyer is not such a biggy, you can use the online service to file your papers for you, just make sure you do good paperwork to stay compliant so your corporate veil doesn't get pierced.

find an accountant (based on recommendations from friends or whatever), show him your situation, and see what he says.

From my experience it will take you a few accountants until you find one who is competent - that's what happened to me. Also, it seems that accountants are universally slow with their work, so that's a headsup.

G'luck and god bless.
 
Pulling down that much cash and you can't afford to pay a lawer/accountant to give you advice?

I smell a con in motion...
 
If you have 700-800k coming in per year, spend the couple grand and get a lawyer and CPA. Your time is obviously worth more than filling out forms yourself.
 
This smells a little funny to me as well, but...

You should probably go for the s-corp for the added legal security.

Making that much without being incorporated is ridiculous.
 
"700-800K/year in income profit wise before any expenses."

Yeah, but what does that translate to after you deduct the adword buys? A buck fifty?
 
Aah well thank you guys, i did find a business consultant and ive already had a accountant for about a year that knows my situation. I make lets say about 400k after expenses, etc. I think im going with an s-corp. Thanks for your input guys!
 
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