what type of company to run as?

[webnoob]

I'm thinking of running as a company but i am sort of clueless where to start, and where do i go to.

will running as a company save me from some taxes?
right now i am the only person to run/own the company.. what should i be looking at, LLC, LTD, other? can someone explain the differences between them all.

would it be better that i run as a company and pay myself as an employee?

also, where do you go to register as a business? i am in the U.S.

any help is appreciated.

[Essex_boy]

See an accountant

[Broadway]

An S corporation can be good. The corporation aspect gives you some liablilty protection. As far as the money goes the general approach with an S corporation is to pay yourself as little salary as you can justify, you then take the remainder of your company's profits out as distributions. The money your company pays you as a salary is subject to Social Security and Medicare taxes, the money you take out as distributions is not. This saves you about 15% in taxes.

The downside of an S corporation rather than a regular corporation is that if you own more than 2% of the company (which almost certainly you will), you can't deduct most of those fringe benefits that you can with a regular corporation.

Of course this post in no way substitues for obtaining qualified advice from a professional in this field.