Business Formation

LLCs are a popular business structure for new and small businesses because they’re simpler and more flexible than a corporation.

An LLC can provide business owners the same limited liability protection as a corporation.

If you don’t need investment money & need flexible taxes, an LLC may be right for you.

An S-Corp is a small business corporation that offers significant tax advantages while still preserving your ownership and interests. 

Depending on how you pay yourself throughout the year, and how you report your personal income to the IRS, you can reduce your tax burden and eliminate double taxation that other corporations are subjected to.

Typically a better business structure for large corporations, a C Corporation is subject to corporate income taxes. 

C Corps are more attractive to potential investors and shareholders because they allow for wider ownership however it does have more extensive legal requirements.

Sole proprietorship is for individuals who have gone into business for themselves and haven’t created a formal business structure.

A sole proprietor is personally liable for the debts of the business. A sole proprietor must also report all profits and personal income as well as pay a self-employment tax.

A Limited Partnership allows for partners to invest in an organization and protects them from losing more than their investment.

Federal and state governments don’t tax the partnership itself. Instead, individual investors report their profits or losses on their own tax filings.

Non-profit organizations are eligible for grants and donations as well as certain state and federal tax exemptions. Members and officers are protected from personal liability.

Depending on the type of Non-profit you form, contributions are tax deductible for your donors.