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  1. #1
    Newbie
    Join Date
    February 21st, 2013
    Posts
    10
    Starting a Business
    Hi peops,

    What is best for online affiliates in Iowa? An LLC, S Corp or C Corp?

    Thanks,

    Shelley

  2. #2
    notary sojac Herb ԿԬ's Avatar
    Join Date
    January 18th, 2005
    Location
    Central/Western NY State
    Posts
    7,741
    Cool
    Shelly, do you have to incorporate right away? Why not get your feet wet first.

  3. #3
    Newbie
    Join Date
    February 21st, 2013
    Posts
    10
    Hey Herb,

    I'm not sure how that works. If making commissions, then I would just report the income at tax time, without an LLC right?

    Shelley

  4. #4
    OPM and Moderator Chuck Hamrick's Avatar
    Join Date
    April 5th, 2005
    Location
    Park City Utah
    Posts
    16,646
    You can operate as a sole proprietor until you make enough income to justify spending the money to incorporate. Regardless you need to consult a CPA. I did that then chose to use Legal Zoom. You have options on which state to incorporate in particularly if you want to hide your identity. Just remember that you owe state taxes in the state you reside regardless of where you incorporate.

  5. #5
    Moderator
    Join Date
    October 16th, 2007
    Location
    Neenah, WI
    Posts
    682
    Shelley, here's a few thoughts I wish someone would have told me 10 years ago...
    Consider getting an EIN number and start paying quarterly taxes.
    It is probably worth spending a couple hundred bucks now to sit down with a CPA and learn how to leverage your deductions.

  6. #6
    Newbie
    Join Date
    February 21st, 2013
    Posts
    10
    Caleb..Thanks! I will look into it.

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