Re:Ask HN: How to found a company as a single founder?
by novaleaf on Tuesday January 08, 2019 @12:35PM
(#18857465)
Best if you avoid incorporation until you are forced to. If/when you incorporate, do so as a LLC or SCorp (allowing pass-through taxation). CCorps now have a flat 25% tax rate which will be a high double-taxation while you are trying to grow.
edit: assuming you are in the USA. If in a bureaucratic nightmare of a country then you should avoid incorporation until you are extremely profitable. My own experience in Thailand: I incorporated early and was forced to hire a full time bookkeeper plus about 1 month/year accountant contractor to handle the government red tape
edit: assuming you are in the USA. If in a bureaucratic nightmare of a country then you should avoid incorporation until you are extremely profitable. My own experience in Thailand: I incorporated early and was forced to hire a full time bookkeeper plus about 1 month/year accountant contractor to handle the government red tape