I am a Corporation. S corp for tax purposes. However, the true issue if a vendor has you personal guarantee then it does not matter. However, its good after you get established you can attempt to leave all debts on the business alone.
We were advised by a tax consultant to have our property in a separate business name as a LLC and our Coffee house, who is and S corp, rent from the land company, This allow a second layer and supposedly prevents folks from taking our house if the burn their tongue on an Americano or tip on the steps instead of using the ADA ramp
Then we spoke to the insurance guy and he said we should have a meeting with him, the tax accountant and the lawyer to make sure we are doing what is in our best interest. $$$ lets see the lawyer will get $$$ / hr ; the insurance guy $$ and the tax lady 4= $$$$$$$/ hr... and this is supposed to save us money?
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