Nevada Business

[S T]

For those in Nevada,

Taxpayer just retired from Calif and relocated to Nevada

Looking to set up a consulting business

For Nevada and Federal which would be the best entity form

Sched C - LLC Sole Member - LLC - S Corp election ????

will not be a large Income producing - maybe gross receipts $ 10,000 to $20,000 - and probably enough expenses to offset which according to taxpayer would be auto and travel --- so I am thinking not to elect S Corp - would be able to change later and elect S Corp if needed

Any thoughts or direction

Thanks

Sandy

[Lion]

I usually suggest they start simple: sole proprietor or maybe an LLC if liability could be an issue. It's so much easier to go up the ladder to a more complex entity if the need arises than it is to dissolve the more complex entity, usually with tax consequences, to move back down the ladder. Even an LLC might be overkill depending on state fees, annual reports, minimum business taxes, etc., if a sole proprietorship with a good insurance policy can do the job.