Feb
I’m currently being to plan a catering business…I would like to have at least 5 employees. I know I want a INC. but I'm not sure which one..maybe C-Corp, maybe S-corp or LLC or LLP? Can someone help me?
Answer:
C-corp has the ideal benefits especially when it comes to tax deduction. If you're planning to expand and maybe have different business under one company, C-corp is also the best choice. LLC and LLP is for when you have a partner and usually they don't last because partners end up separating and the company ends up dissolving.
Good luck figuring it out. And get try to ask an accountant. Usually they give you some information when you call for a free quote. If they feel you'll use them in the future they'll tell you what you need to know.
Answer:
Hi Meagan,
This sounds like a business with very high start-up cost, if you're just starting out, it maybe tough to get back your return of investment even for 3 years.
Have you considered other business where the start up cost is lower and higher return.
You can do this by making money on the web, check out
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Hope this helps,
James Yee
http://jamesyeeblog.com