Starting a business? One of the first steps you will take towards establishing a solid business plan and foundation will be legally incorporating your business entity. Determining which legal structure is right for you and your startup is crucial, and will play a significant and consistent role throughout the duration of your company’s lifetime, especially when it comes to how your business will be taxed. The three most popular forms for small businesses are C corporations, S corporations, and Limited Liability Companies, more commonly known as LLCs. Every entity type has their advantages as well as disadvantages. It is important that you are knowledgeable on how each type will affect your company structure, as well as your bottom line. Give us a call today if you would like for one of our accountants to walk you through this process!
C Corporations: When a small business incorporates, it automatically… Read the rest