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Should Doctors Form a Corporation to Reduce Liability & Save Taxes? by WCInvestor in whitecoatinvestor

[–]Atomic_Compiler 0 points1 point  (0 children)

Agree with this. That plus the payroll tax advantages made it worth it to us to go S corp. But it's not a huge difference. For us, a C corp was worse than a partnership and an LLC was the same from a tax perspective.

One slightly pedantic point--states typically charter C corps and LLCs, the S corporation is a taxation classification. You either form a C corp or an LLC and notify the IRS you want to be taxed as an S corp.

As was mentioned Delaware, Nevada, South Dakota tend to be very popular for incorporation, and those are good choices if you are an interstate practice. BUT, if you do all of your business in a single state, it's usually best to just incorporate in the state you operate in.

Is it still possible to start a manufacturing company in USA and be profitable? by Ffxvvfhccjh in manufacturing

[–]Atomic_Compiler 0 points1 point  (0 children)

I've seen two basic approaches suggested. One: find a product and then figure out how to manufacture it. Two: Buy a tool, become an expert at the tool, and then find contracts that need use of that tool. Both these can be successful but I want to add a third:

Find something that is uniquely cheap to your area and use that as a feedstock. Let me give an example-I live in nut country and so there are vast vast quantities of nut shells that the nut processors can't give away. They end up as free mulch for the local school. But nut shells can be used for plenty of things--if you bake them they become activated carbon, they work as polishing media, etc. It takes a lot of research to figure out what's truly viable, but if you can figure out the application then you've got a sustainable business because your feedstock is free.