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New Electrical Service Business and Incorporation...

1495 Views 5 Replies 3 Participants Last post by  fxrguy
Starting up a "small" electrical service business. I'm semi-retired and would like to utilize my electrical license to make a few extra bucks, and have something to do to get out of the house. I'm unsure if I should start up as an LLC, LLC taxed as an S Corp or a regular S Corp. I have talked to a couple of CPA's and they are all over the place with opinions. Just confused me even more. They seem to prefer an S Corp, but I suspect that is so they can charge for the quarterly filings. Any help & info would be appreciated.
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Welcome to the talk . I'm an S corporation buiness . And pretty happy with this type of corp for my buiness . Do you have sales tax on repairs and do you have to collect it for the state in which your in .
Florida doesn't have a State tax. been doing electrical work pretty much all my adult life, and I'm 63 now. Started off residential for about a decade as most of us did, and graduated to commercial doing probably another decade doing that. Worked for myself for a few years about 20 years ago , but wasn't required to incorporate back then. Closed my shop to go to work at the Kennedy Space Center, and did that for over 20 years until I got laid off a couple of years ago. We did a lot of Industrial work at the Cape. Kept my license inactive all that time and still did continuing ed so basically I'm pretty much ready to go. Mostly just want to get out of the house and make a few bucks in the process. Something to keep me occupied.
Why not just run it as a sole proprietor and carry lots of insurance. Keep it simple.
Decided to just do an LLC. That way I at least have some protection. Was advised to not bother with Sub S unless I actually started making some money or hired people. Again, I am just doing this as a side venture to get out of the house and make a few extra bucks. I'm semi-retired now, and am not interested in going back to a 40+ hour a week work life. Thanks all for the input!
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