Trying to decide on an S-Corp or LLC for the "Parent company" that me and my business partner plan to launch a few different businesses under. Once we choose the LLC or S-Corp we need to get DBA's for each venture right? (They will not have the same name as the LLC.
what is best for our needs current situation: DBA, LLC or S-Corp Next to each thing I have written what I believe is best for that need.
We need to get a joint bank account (all 3 offer this right?) Want pass through tax (LLC & S-corp) we need to be able to start charging things as tax write offs for the business (LLC & S-Corp) We would like to recoup some of these start up costs (s corp) There will be entertainment (dinners) and travel costs for interviews and for traveling to events we cover (?) We wouldn't be against taking on investors at some point (s-corp)
Our first venture and closest to launch is a magazine. The magazine is free and money for now will be purely be from advertising in print and on website, we will offer advertising packages that include us filming a video/commercial for them. Everything will be put back into the business (although we do want to recoup our start up costs eventually)
As I said, we plan on launching a few different things, the magazine is just our main focus right now (although we have a team developing an app, will also eventually have a dedicated videography business also)
From that list is LLC the best option for us? How hard is it to get an LLC with S-Corp tax status. Once we decide on this, we need to get a DBA straight away for the Magazine, right? The name of the LLC will not be the name of the magazine.
Final question: Using services like BizFilings, Legal zoom etc – worth the money or can it be done relatively easy yourself for a lot cheaper? (Or is the premium worth the time expenditure)
Please note this is all in Florida.