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A reselling business as an EC - form an LLC?


Replies to: A reselling business as an EC - form an LLC?

  • KnowsstuffKnowsstuff 3405 replies11 discussionsRegistered User Posts: 3,416 Senior Member
    To be clear I am not suggesting to make it the college essay

    In my son's case he did since what he has done was so different according to a friend of ours that is a college counselor. My son has been doing live auctions bidding against adults /jewelers /collectors since he was 9. Even his Michigan counselor told him it's only the second time she had read this in an essay and the first was one of her best friends that she introduced to my son, that also collects /sells coins (certain type). But it was how he interrelated his experience to engineering that was clever.
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  • politepersonpoliteperson 264 replies4 discussionsRegistered User Posts: 268 Junior Member
    It’s a legitimate EC but he shouldn’t make decisions about business entity type based an admissions as it’s unlikely to make a difference there. BUT he should consult with a local CPA or do the research on his own to make sure he understands tax filing requirements and the pros and cons of different entities. Some of this is going to vary by state.
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