FlaHomeBldr

Since most Biz CC's don't report to biz or personal credit agencies, they don't make much sence to get hence the reason they are not discussed here very often.

yes

Also if you own an LLC with partners as I do owning it thru my S-Corp avoids having to pay self-employment taxes on my K-1 earnings.

Since you wre running a biz from your home won't they try to lein your house?

If your spending that much on gas forget about a fleet card, you need something with reward points or a discount on gas.

if you are an llc you can also pay yourself as you need money (since it's all your money anyway), not on a regular schedule for a set amount - this made more sense for me when finances were tight. A CPA friend told me that if you make under 100,000 an LLC is cheaper tax wise, but over 100,000 a corp may be. Add in CPA fees (assuming you'll do your own books as an llc) and it takes about 150,000 for a corp to be less expensive. As the sole employee in an internet business with no liability, it made sense to be an llc, have less paperwork and formalities, and file on personal taxes. If you have real employees (mine are contractors) or are in a biz where liability may be an issue, a corp gives you more protection. As an LLC you still have to file corporate taxes and all earnings are carried over to you on a K-1 which you then file your personal taxes on very similar to a S-Corp.

A corp pays fica so it's a wash on that respect. Not the same thing a corp dosen't pay FICA the individual shareholder may have to, but as an llc you will pay self employment taxes on your K-1 earnings.

GMAC does report to personal if you are a Guar. mine does.

Try being a Home Builder and Getting a LOC right now not a popular industry at the moment, Industry plays a very big role as well as lenght of biz and contracts under construction as well as many other factors.

Also remember as an LLC you will have to pay Self Employment Taxes.

My CPA says don't charge yourself intrest it just becomes income on your personal taxes makes no sence in long run.

I have NO idea wtf you are talking about. But stop using ME as an example of any point you wish to make. Then don't post Moron and there won't be a reply button to respond.

Well, let me see. Paris Hilton is going to be filthy rich. Yet her parents didn't give a crap about her education. Yeah but, Paris Hilton is an salamander. They are probably just glad that she made it out of elementary school. (Sorry if I offended anyone). Yea she's a real moron she took her looks and personality and turned herself into a icon using the papparazi as a tool. She dosen't need Daddy's money anymore.

It amazes me that people get pissed about school supplies, but most don't seem to mind paying for health insurance for those that chose not to carry it.

They should. Auto insurers do it, if you have a bad driving record, your premiums skyrocket. Put the burden on the people who are causing the problems, not the rest of us. Then ...cut them a break if they change their behavior. If someone is paying a "body mass index too high" surcharge, give them a substantial discount for losing weight. If they're paying a "tobacco user" surcharge, give them a discount for signing up to quit smoking. Insurance companys do this try buying life insurance if you smoke or are obese the rates are thru the roof.