Hi there-
I am certainly not an expert in this matter, but I did accumulate some info during my quest for LLC/S Corp debate so let me see if I can help you.
I have one website which earns me a few bucks a day...I am thinking of incorporating for liability protection and tax purposes.
Unless you are specifically providing how-to instructions on financial instruments or dangerous equipment, I'd say your liability is very limited. LLC and S corp treat profit & loss similar to sole-proprietorship.
..would like to be able to write off my webhosting, domain registration, I'm going to buy a laptop soon, computer paper, any online courses that I take...and it seems as if it would be easier to do that if I had an LLC or corporation..
You do not need LLC or S corp, or even C corp to write off expenses. Most states allow you to declare DBA (doing-business-as) sole proprietor entity and allow you to write off expenses. (careful about your laptop; make sure you use it 100% for business and you will need to amortize it (5 year rule I think)). Whether you are sole proprietor, LLC, S Corp, etc., you will need to make sure that you profitable 3 out of 5 years to ensure that your business is legit and not a hobby.
In comparing LLC vs. S Corp, LLC is far cheaper to establish and maintain than S corp. You will most certainly need an accountant for S corp as the paperwork requirements are more stringent. In NJ, I paid $500 to establish LLC and have to pay $100 annual fee. S corp is for you if you intend on issuing stocks (aka equity) to a limited number of shareholders (50?). For more detailed info, visit nolo dot com.
Based on your comments, I think it would be better for you to invest the money to grow first then re-assess in the near future.
I ended up forming an LLC only because I had my own consulting firm and needed it to interact with large corporations. If I didn't have this requirement, I most certainly did NOT need LLC or S Corp.
Either way, good luck!
Kev
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