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What's your revenue like? Pass through taxation, the S Corp is cool for making startup accounting simple. You'll want a C Corp once over 100K in profit or basic
by starter 15y ago
What's your revenue like? Pass through taxation, the S Corp is cool for making startup accounting simple. You'll want a C Corp once over 100K in profit or basically when making more than you need to live.
Only problem? S Corps do NOT allow international owners so you may want to wait on international ownership until you're startup is ready. Also remember that getting legal probably shouldn't be your startup's priority.
According to PG...
"There is more to setting up a company than incorporating it, of course: insurance, business license, unemployment compensation, various things with the IRS. I'm not even sure what the list is, because we, ah, skipped all that. When we got real funding near the end of 1996, we hired a great CFO, who fixed everything retroactively. It turns out that no one comes and arrests you if you don't do everything you're supposed to when starting a company. And a good thing too, or a lot of startups would never get started."
An excerpt from "How to Start a Startup"