I am creating an Import/Export company with ties to Asia and South America. I am a one man team so far with implications to grow fast within one to two years. Let's say for a hypothetical projection that in 2019 that gross sales are small between 50K and 70K. My idea is to possibly register this company as an LLC.
I don't know whether initially, I should have my LLC taxed as a Sole proprietor or a Corporation? Given this above scenario and double tax situation of a corporation, which direction would the professional advice lean with regards to this structure?
One other factor is that I will have a "limited partner" from a foreign country. In what ways should I look to integrate the "limited partner" into the structure? Any and all ideas for this Business structure are greatly appreciated.
I don't know whether initially, I should have my LLC taxed as a Sole proprietor or a Corporation? Given this above scenario and double tax situation of a corporation, which direction would the professional advice lean with regards to this structure?
One other factor is that I will have a "limited partner" from a foreign country. In what ways should I look to integrate the "limited partner" into the structure? Any and all ideas for this Business structure are greatly appreciated.
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