Northern Virginia: LLC/S-Corp?

[Jason Peters]

Good evening Ladies and Gentlemen,

As Northern Virginia could be a state of its own, I was hoping to stumble upon professionals with experience in this area. The question has been discussed with no end in sight, however, it was difficult locating sources with personal accounts of performing in Northern Virginia. Would one desire to be taxed as a LLC, a S-Corp, or is it fruitful to establish a LLC taxed as an S-Corp. Minimal taxes, Maximum profit for all.

I understand there are generic answers for this all over this forum, so perhaps we could limit the responses to those located in Northern Virginia?

Thank you for your time and I eagerly await your responses.

-Jason

[J Scott]

You don't give enough information about the type of business you plan to be operating, or about your reason for creating a business entity...

Without (at least) that much information, there's really no way to know what's best...

Additionally, even with that information, there are a lot of nuances (your financial situation, your risk tolerance, potential partners or shareholders, your income outside the business, etc) that are very important.

You should talk to a CPA or tax professional who can give you advice based on all the information, not just a couple sentences you provide here.

General rule of thumb is that a good tax professional will save you MUCH more than he costs...