Anyway, I have a full time job and my fiancee does not. She is planning on starting an import/export business. We are just wondering if she should open a LLC or Inc? Should she partner with me or that I can save on tax? What are the pros and cons and what are the tax benefit?

Anyone can help me out? I have an appointment with my account next week, but somehow I trust my be-loved Acurazine people better, hahahahaha

 

Without knowing where you want to take this company there is no right answer to that question. I own two companies, ones a S corp the other a LLC - just works out better with where we are headed.

A business planner/accountant is who you need to talk to in order to get the right choice here.

 

LLC or S Corp to begin with. You can always incorporate later. Taxes are different from state to state - but rest assured - you'll get raped anywhere.

A good accountant is generally worth what they charge - if you're making money.

The real solution on the import / export schema would be to incorporate here however the best method works out and keep your funds outside the country in a tax shelter....

 

yup, yup and yup I agree

 

I've an S-Corp.

 

I just started an S-corp not too long ago

 

Form an LLC. It's taxed as a pass-through entity like an S corp, but it's far more flexible in terms of the number of members, the capital formation of the business, the persons or entities that can become members and the management of the entity. The only downside is if a foreign, non-resident alien wants to become a member; then the tax implications for that person become an issue.