View Full Version : incorporating your Laundromat ??
BEEPE73
12-06-2006, 05:44 PM
I have been talking to some friends and they thought that i may want to incorp. my laundromat, to protect me and my assets from any law suits. Have any of you Incorporated.. Looking for some help...
bodman
12-06-2006, 07:00 PM
everyone's situation is different. talk to your accountant and lawyer. I ran a business for 26 years as sole propritor bought a mat now we are a LLC.
Laundry_Mike
12-07-2006, 10:17 PM
My business is a regular corporation. I took the advice of my CPA. He said being incorporated as a regular corporation was the best option for my business.
laundrykingakron
12-08-2006, 09:13 AM
I have my business as a S Corp and the property as an LLC, provides an extra layer of protection against frivalous lawsuits. Easiest way to do it is by using lagalzoom.com, they quickly and inexpensively incorporate in all 50 states, file the operating docs and all the other paperwork. Used 2x and would recommend.
Zak
vernonmaytag
12-10-2006, 12:50 PM
[ QUOTE ]
I have been talking to some friends and they thought that i may want to incorp. my laundromat, to protect me and my assets from any law suits. Have any of you Incorporated.. Looking for some help...
[/ QUOTE ]
In our case, it was recommended a little differently. We own a corporation, and it holds the business, and the building, and the second business we have. Since we had three full assets (and a few other pieces), it made sense that way.
We are Canadian, and here the laws vary some from down there.