Updated over 9 years ago on . Most recent reply

S Corp or LLC ?
So, I am going to be starting an entity to initial handle Network Consulting Fees, etc and build out to property holding in a couple years. In the meantime, I need to keep the funds out of my personal bank account, etc. My fiancé and I are the only people involved in the endeavors.
What is the best entity type to create for this purpose?
Most Popular Reply

If the immediate purpose is to separate funds you can set up a business account at any bank. You could even set up a DBA (Doing Business As) so that you can work under a fictitious name. It would seem an unnecessary expense to create an LLC just to separate funds.
Also before speaking with an attorney I would check with a CPA. The difference between an LLC and an S corp is more related to taxes than it is to legalities.