Ask Entrepreneur

I don't know whether to form an S Corporation or a limited liability corporation.

I'm starting a landscape maintenance business as a sole proprietor. I want to incorporate and to keep my business in the family. Would it be better for me to form an S Corporation or a limited liability corporation? I want my family to be shareholders, but I don't want to affect their taxes.
It's entirely possible that once your family has an ownership interest in your business--regardless of the form--there will be an impact on their taxes.

Speak to a business accountant who understands these areas to determine the extent of the impact, if any, and which form will minimize the negative and "accentuate the positive."

Share Your Thoughts

Today's Editor's Picks


Ask Entrepreneur is a question-and-answer forum for and by the community. Send in your burning business question, or comment on someone else's now. Have a Question? Ask Now

Topics (over 1000+ answers)

Ask Entrepreneur Q&A Hangouts

Google + Hangout With Shark Tank
Google + Hangout With Jason Falls
Google + Hangout With Angela Jia Kim
Google + Hangout With Grant Cardone

ASK Quick Tips