Business Owners

[Cred]

Difference between forming an LLC, inc, or Corp?

This is the next move for this month on my road to entrepreneurship. I’ve done my research, I’d just like to get some more insight from people who formed any of those above first hand.




End of the year I’ll be jumping into the real estate game and purchasing my first duplex/2 family home.


NC, your boy out here working.

[~RustyGunZ~]

What type of business? I have an LLC for my game company and have a little insight
Diode probably would know best on this

[Cred]

What type of business? I have an LLC for my game company and have a little insight
Diode probably would know best on this

Dope.


I’m starting a Music Record Label.

[Diode]

Difference between forming an LLC, inc, or Corp?

This is the next move for this month on my road to entrepreneurship. I’ve done my research, I’d just like to get some more insight from people who formed any of those above first hand.




End of the year I’ll be jumping into the real estate game and purchasing my first duplex/2 family home.


NC, your boy out here working.

Form an LLC to protect your personal assets from liability.

You're too small to incorporate and an S-Corp makes no sense in the real estate market as you carry a ton of liability and could be sued out of existence.

Should only be a couple hundred dollars worth of lawyer forms.

[Amen]

This the major differences have to do with TAXES and Business structure.

Like Corps have a set structure with a bunch of CHEIF's as where an LLC - that isn't needed.

Privately owned business are typically LLC for legal matters.

[Diode]

I’m starting a Music Record Label.

don't.

[Diode]

NEVERMIND ANYTHING I SAID, AMEN IS HERE WITH AN OPINION SO WHY DO ANY OF US EVER EVEN RESPOND????????

[Amen]

You pretty much summed it up with the protecting of assets - LLC.

[Cred]

Form an LLC to protect your personal assets from liability.

You're too small to incorporate and an S-Corp makes no sense in the real estate market as you carry a ton of liability and could be sued out of existence.

Should only be a couple hundred dollars worth of lawyer forms.

Figured that much when it came to the liability aspect. Seen some others say the whole opposite so it confused me like wtf fuck google lol

But yeah, $807 worth of lawyer forms here in Illinois for the LLC is what I’ll be looking at, not to bad.

[Amen]

NEVERMIND ANYTHING I SAID, AMEN IS HERE WITH AN OPINION SO WHY DO ANY OF US EVER EVEN RESPOND????????

Lollll, I was going off the top - you clearly googled your info. Good job.

BTW; good shit, @Cred and good luck, bro.

[Cred]

don't.

Not worth it?

[Inno]

Hey man good luck with this, get off dem streets make that legal money pimp

[Cred]

Lollll, I was going off the top - you clearly googled your info. Good job.

BTW; good shit, @Cred and good luck, bro.

After extensive googling I actually found statements opposite of Diodes so I kind of doubt he jus went off google (different scenarios though) lol


But fasho, thanks fam.

[Amen]

Probably true, he knows his shit.

I was just reading something on google that basically said the same thing he did.

https://www.mycorporation.com/learningcenter/llc-vs-corporation.jsp

Pretty much has a break down for you.

[WRATH]

I'm in stride to open a studio by the end of the year. That would be easier then a record label. You'll have to get distribution, and a tour route to even consider starting up a government recognized label. If you are going in on it with some people maybe just get the fictitious name for now and make sure your core group is ready to run a brand.

[Diode]

Lollll, I was going off the top - you clearly googled your info. Good job.

BTW; good shit, @Cred and good luck, bro.

i have an LLC

please stop posting

[Hush]

LLC bro

[Sharp]

I have a friend who started his own label

I think he went with an LLC

Is your duplex going to house a studio?

[Diode]

dancake your tag isn't far off. it's one of them. though due to expire because it was incompatible with the FDA and also having a kid.

[~RustyGunZ~]

Yeah we just did an llc for protection of game asset shit. We only had 180 in form fees, but we got them from my buddies mom that owns a few local businesses so maybe lawyers would charge just to give them to you?

[veritas]

ITT: amen relapses. Again.

[Amen]

ITT: amen relapses. Again.

Lollllll

[Diode]

ITT: amen relapses. Again.

i'm saying.

[veritas]

Lollllll

Cmon coach. What would you tell those youngsters who kept taking their eyes off the ball?

[Incredible]

Cmon coach. What would you tell those youngsters who kept taking their eyes off the ball?


"Do what I say or I'll go get Mrs.Santiago, Do you want that Kyle?"

[Amen]

You're right man.
veritas

[Amen]

"Do what I say or I'll go get my Mrs.Santiago, Do you want that Kyle?

Fall back, you don't want this smoke fam.

[veritas]

You're right man.
veritas

Well played.

[Incredible]

Fall back, you don't want this smoke fam.


Your right, Mrs.Santiago probably fuck me up too.

[Amen]

She would and could judge a roast better then you, as well faggot.

[Incredible]

She would and could judge a roast better then you, as well faggot.

You're right man.
Amen

[Sharp]

Mrs Amen confirmed as sole rebuttal tourney judge