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Quick look at different options

Limited Liability Company

The most popular entity type for a small business. An LLC combines the personal liability protections of a corporation with the tax flexibility of a partnership.

C Corporation

The most common type of corporation in the U.S. Reduced likelihood of an IRS audit, compared to a sole proprietorship. Corporate shield.

S Corporation

If your corporation meets certain requirements, you can elect to be treated as an S-Corp. Eliminating “Double Taxation” on Shareholders Dividends.

Nonprofit

For organizations involved in charitable, educational, scientific, or religious activities, this option gives you great tax advantages. We do all types.

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Frequently Asked Questions

Is LLC better than INC ?

Both corporations and LLCs provide limited liability protection. Corporations and LLCs have their own legal existence. They own the business, and they are liable for the business’ debts and liabilities. The shareholders of a corporation and members of an LLC are not liable for the business’ debts.

Do I need to Incorporate ?

The advantages of incorporating a small business include: No. 1: Personal asset protection. Both corporations and LLCs allow owners to separate and protect their personal assets. In a properly structured and managed corporation or LLC, owners should have limited liability for business debts and obligations.

What is S-Corp or S-Chapter ?

Small business owners often choose to form an LLC instead of a corporation because LLCs offer more flexibility in the way they are managed and usually have fewer recordkeeping and reporting obligations than corporations. Unlike an LLC or a C corporation, an S corporation is not a type of business entity. The S corp.

Can I get a Salary as Sole Proprietor ?

Unfortunately, A sole proprietor is not entitled to tax deductions on salary paid to himself because these payments are not business expenses. When a sole proprietor pays himself a salary, he merely is transferring funds from a business account he owns to a personal account he owns. Thus one of the benefits of incorporating your business.

Is my Company Registration Permanent ?

If a corporation has perpetual existence, the corporation will continue even if the shareholders, directors, and officers come and go. … Finally, perpetual existence benefits the corporation because there is no need to constantly file all the documents that started the organization.

Are my Assets protected ?

One of the benefits as a business owner, you probably realize that operating and owning a business can be fraught with pitfalls and risks. Turning a profit isn’t enough; you must also protect your business from claims and lawsuits.