Legal Question in Business Law in New Jersey

Should I incorporate or choose an LLC

I own a daycare that holds 15 children. I am married but I own the business myself. Should I incorporate or choose an LLC. I wish to save money during the year on taxes and at the end of the year. Which one would be more beneficial?


Asked on 6/28/00, 4:51 pm

3 Answers from Attorneys

Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Should I incorporate or choose an LLC

Please go to my web site for free guidance on choice of business entity. http://www.taxesq.com/choice.html

(856) 665-2121

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Answered on 9/05/00, 9:01 pm
Robert Gleaner Robert A. Gleaner, P.C.

Re: Should I incorporate or choose an LLC

The choice of LLC or corporation, from a tax standpoint, should be answered by a qualified CPA. From a liability standpoint, either one will probably give you the same protections, but a careful analysis of your own situation should be made before you choose. Keep in mind that this advice is based purely on the little bit of information that you have given to me. There may be other factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. In your situation, you need to retain an attorney before you take any action, either me or someone else. Only then will you be able to rely on the advice. I will be happy to assist you. However, you need to call me at 856-546-8010. If you mention LawGuru, there will be no charge for your first consultation. Good luck! Rob Gleaner

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Answered on 9/06/00, 8:21 am
Beverly Muller Beverly Sharps Muller, Esquire

Re: Should I incorporate or choose an LLC

hi - a lot may depend on your own financal situation. the s-corporation might be better for you. your accountant would have a better picture of what your tax liabilities would be vis-a-vis the different choices. feel free to call me at 609 263-0089 if you have any other questions. good luck !!

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Answered on 9/06/00, 9:30 pm


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