Join Date: 05-09-2003
Location: Ann Arbor, Michigan
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Re: Is the Gov anti-small business?
Some differences vary from state to state. Michigan was late to the party allowing LLC's, but they afford most (if not all) of the protection of an S-Corp, cost less to set up, and the income flows through your personal return.
My lawyer and accountant look at them as being functionally equivalent.
The only reason that you would ever want to change it is to get a C-corp status, but that's a whole different animal, tough and expensive to convert from an S to a C as well.
And the "freedom that owning your own company affords you ?" Hmmm.
A good friend called me yesterday from Irvine, CA where he owns a photography studio. He owns his own business, but 16 year old girls are making decisions as to which photog to use for dances, sports, and yearbook.
So he's literally working for them.
Hey, Abtech! How many letters in the word "partner?"
If by being violent you mean Islam prescribes expansion of its rule through warfare and is therefore violent then so be it. - SPDUDE
See you at Grattan June 25-27 2007 ! Email me for info.