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Dive business - LLC, Partnership, or Inc?

by Scuba Steve, Window Shopper

  • Created: November 29, 2012, 12:17 am
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2 comments
Hi Everyone! My business partner and I are looking to open up a dive business. We want to develop the foundation early for scalability. Here are our goals: - Offer employee education benefits (dive training) - Sale equipment - Equipment maintenance - SCUBA classes - Independent contracting instructor leases We can't decide how we should form the tax side of the house. An LLC offers some tax advantages but not a lot. A partnership would double tax any profit we make (i.e. a $200 profit for each of us would be taxed at the personal rate). An Inc. (S or C corp) seems to big for what we expect to develop any time soon. Anyone have any advice or input into this situation? Thanks in advance, SCUBA Steve
Tags: Discuss Popular Topics, Starting & Registering a Business
‹ U.S. company for NON RESIDENTS Correct documents ›

Scuba Steve | Window Shopper | 11/29/2012 - 11:15 am

Hi JGabriel,

Thanks for stopping in and passing that info. Unfortunately, I am not
currently located in the continental US, but I will be in about 6 months. I
intend on starting operations soon after arriving.

Therefore, any help that I can receive remotely would be greatly appreciated.

Thanks,

SCUBA Steve

JGabriel | Community Moderator | 11/29/2012 - 9:49 am

Hi Scuba Steve, You might find that using local resources can help guide you through this process. SBA has resource partners like SCORE and Small Business Development Centers located across the country that provide free business counseling to individuals looking to start or expand a small business. Visit SBA Direct to find your local SBA resource partners by entering your zip code.You can go to this page to find out more information about choosing your business structure.