LLC, FLP, INC, CORP C&S [a plethora of questions]

[Kelly U.]

First of all - does anyone else feel like they are singing the alphabet?

I have heard the LLC or FLP is the way to go but what really does that do for me?

What are the pluses and minuses and differences between the two... [In real English not legal jargon]

I have heard its better to have the LLC in more then one persons name… [Which for me would be my husband] what’s the best way to split that? [50/50 or 49/51 from a tax point of view]

Are there tax advantages to an LLC if only one of the persons listed is a US citizen and the other is not?

How do you pay “yourself and husband†without messing up your taxes?

What extra documentation do you have to have at the end of the year to file the business taxes?

And I could probably think of a million more questions… but I will stop there for now.

:oops: :oops: