AllOutOrNothing
New Contributor
User Power
Value/Post Ratio
31%
- Sep 15, 2007
- 29
- 9
A friend / business partner and i are looking to partner up and im unsure which option is best.
We plan on setting up a company so all the assets sit under the company and then we pay out a salary to the two employees me and him. Currently my business is sole prop and mixed in with my personal finances and the goal is to seperate this including debt and put it into a company and than evaluate from there. We are definately going to setup some beforehand aggreements to get things rolling smoothly but we want to make sure legally we have everything squared away.
From my research it seems as if s-corp is the way to go.
We plan on setting up a company so all the assets sit under the company and then we pay out a salary to the two employees me and him. Currently my business is sole prop and mixed in with my personal finances and the goal is to seperate this including debt and put it into a company and than evaluate from there. We are definately going to setup some beforehand aggreements to get things rolling smoothly but we want to make sure legally we have everything squared away.
From my research it seems as if s-corp is the way to go.
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