{ "media_type": "text", "post_content": "As a consultant on C2C, is it best benefits, taxes and legal-wise to setup my business as an LLC or S-Corp?", "post_id": "616b24ca7b18120032086eb9", "reply_count": 7, "vote_count": 3, "bowl_id": "55375ce690f5eebe1d2a0f88", "bowl_name": "Tech" }

As a consultant on C2C, is it best benefits, taxes and legal-wise to setup my business as an LLC or S-Corp?

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A corporation will give you more protection legally but will almost definitely cost you more time and money when it comes to paying taxes and dealing with beurarcracy.

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That depends on how much you will be earning and how much risk you think you are taking on. Running a corp is going to cut into your profits. It might be better to do an LLC and pay for decent insurance.

Definitely would do an S-Corp if you're going to have other employs under you. You can also set up a holding company and have the business under you as an LLC

It would just be myself. The contracting opportunity I came across is paying hourly on C2C, so I’ve been back and forth between a LLC or S-Corp

Honestly, it's better to speak to an accountant. I was torn between the two and couldn't really figure out - got in touch with an accountant that was able to guide me based on the specific kinds of contracts I was taking on etc. Most accountants are willing to do free 15 min consultations, which is all you'll really need tbh

I would definitely speak with an attorney or accountant! lots to take into account and might also depend on what state you are in. I know for example the rules are different in TX than CA when it comes to LLC's and taxes

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