Help me: How did you set up your coworking space?? LLC, C-corp, S-corp? (& other questions)

[Eli]

Hi all!

As stated on the subject line, how did you set yours up? LLC, S-corp, C-corp?

Moreover, did you set it up as a service company?

Even moreover, how did set yours up to save on taxes, etc.? Words from the experienced would be greatly appreciated!

As for book-keeping, I have experience with Quickbooks. Is this what you are using?

This last question I REALLY been thinking on. Say I have 70 full time desks with 70 different registered companies. How to I legally make it so that we have one address with 70 different unit numbers? Do I contact an agency to make this 'change'?

Thanks ahead! :D

Eli

[Glen Ferguson]

Hi Eli,

Let me tackle the last one first:

We did a fairly small amount of paperwork to register at the US Post Office as a Commercial Mail Receiving Agency (CMRA). We've been using Spheremail to simplify billing and mail notification.

As an aside, I found out over coffee with an ex-manager of our local Regus that they don't formalize their mail service with that extra step. She told me a few stories about complications from that arrangement; one included a visit from undercover DEA agents investigating one of her client businesses. As a CMRA, I can refer folks like that across the street to the Post Office since all the client information is filed with them. Fingers crossed that I won't ever have to do that.

So whatever type of company you register as, make sure you do choose one to insulate your personal assets from situations like this.

My advice for your first question is: Everybody has a different situation. Different countries, states, taxes, economic development incentives, etc. all play a part in how you choose to be structured. Talk to your accountant and/or business tax planner. They know the laws for your locale and are the best qualified to give you the best answer for your circumstances.

Glen Ferguson  

Phone: 301-732-5165 Email: gl...@coworkfrederick.com Website: http://coworkfrederick.com Address: 122 E Patrick St, Frederick, MD 21701

--
Visit this forum on the web at http://discuss.coworking.com
---
You received this message because you are subscribed to the Google Groups "Coworking" group.
To unsubscribe from this group and stop receiving emails from it, send an email to coworking+...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.