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ropatt

posts: 6

Dec 13, 2007 2:04 PM ET Quote Report Abuse

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I am a Paralegal and Notary Public seeking to seriously grow my homebased business utilizing my skills as both. It`s my major goal for 2008. I need to know what`s the best legal entity structure to form for my business - a C Corporation, S Corp or LLC. In the past, I`ve operated my Paralegal/Notary Public services as a Sole Proprietoship, which I no longer wish to do because of the potential personal liability. I look forward to hearing your suggestions.

Thanks all.

rfdatagroup

posts: 35

Dec 15, 2007 7:17 AM ET Quote Report Abuse

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My first suggestion is an LLC which is hybrid Corp or 2nd an S Corp - Check with your accountant first because of the tax implications and the long term plans of your business

ropatt

posts: 6

Dec 17, 2007 11:54 AM ET Quote Report Abuse

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Thanks for the suggestions. Interestingly, I have given serious thought in forming an LLC.

rfdatagroup

posts: 35

Dec 17, 2007 12:37 PM ET Quote Report Abuse

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A LLC is a great start.

ropatt

posts: 6

Dec 27, 2007 2:08 PM ET Quote Report Abuse

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On another matter, does anyone know about "Self Directed IRAs"?

robertj

posts: 1461

Dec 27, 2007 2:13 PM ET Quote Report Abuse

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On another matter, does anyone know about "Self Directed IRAs"?

What do you want to know about them?

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Best Legal Entity For Homebased Business

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