I’m starting a side job from home that I’m pretty excited about. The website is almost done and I’ve got people lined up to test my site / service’s functionality and get their feedback.
I need to setup my business legally and was wondering about the best outcome for my situation. An LLC would be nice, given that I could easily take some profits from the business as compensation. However, forming a C corporation seems to be the prevailing wisdom with startups. I’m confused about specifically how to, and how much (% of profit?) to pay shareholders in dividends.
What is /r/startups thoughts on this situation?
Edit: I am aware of double taxation with C Corporations, but will likely have to hire a CPA to find the “break even” point of dividends and other compensation involved with C corps.
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April 27, 2017 at 02:39AM
from /u/dadatwork62
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