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May 9th, 2008, 02:50 PM #1
Tax & Personal Liability for Affiliates
- Join Date
- December 3rd, 2007
Hi InternetAttorney: As a newbie to affiliate marketing, I was wondering at what point (i.e. how much money should someone make) should an affiliate consider registering as an LLC or Corp?
For personal and tax liability purposes, is a Single Member LLC a good option for a one-person business or would a S-Corp be a better choice?
Also, how much should you worry about personal liability protection? I know people are so litigious these days and will file a lawsuit for just about anything, so what is the best way to protect yourself?
Any resources you can direct me to would be much appreciated!!
May 30th, 2008, 12:10 PM #2
- Join Date
- April 23rd, 2008
- Washington, DC
LLCs are very popular because they do not require the same formalities that standard corporations require. An S-Corp is likely preferable for a small-time affiliate because all the money your company makes is passed on through to you and is taxed once, unlike a C-corp where you are effectively taxed twice (first on the corporation's profits and next on your personal profits overall).
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