Tag llc

For entrepreneurs and business owners, choosing the right business structure is a pivotal decision. Among the options, Limited Liability Companies (LLCs) stand out for their flexibility, especially regarding tax status. This flexibility allows LLC owners to align their business structure with their financial and operational goals.

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Search Google for the best legal entity for your new startup, and you will get different opinions. Startup advisors and CPAs will probably recommend a limited liability company (LLC). That’s because an LLC isn’t subject to double taxation and is easier to set up.

On the other hand, many startup lawyers will recommend the C-Corporation structure (typically a Delaware C-Corp) because corporate law is typically more “stable,” equity (stock) ownership is passive, and the entity is more structured.

How you choose to incorporate your startup business will have massive implications down the road. This blog explores the basic advantages and disadvantages of each option.

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Anyone starting a new business is faced with a lot of decisions. Arguably the most important is choosing the business entity type and tax status. Business lawyers and CPAs will present entrepreneurs with several options to choose from depending on the legal entity, including “S” election. 

Each type of legal entity has its benefits and limitations. Technically, there’s no legal entity called an “S-Corp.” A company that makes an “S” election for tax purposes is typically referred to as an S-Corp. However, various types of legal entities including LLCs and Corporations can elect S-Corp status. This blog will discuss the benefits of “S” election.

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With the rise of DIY legal services, many entrepreneurs and small business owners may find themselves pondering the following questions, “should I incorporate myself or use a lawyer?” or “Should I hire a lawyer for opening up a small business?” If you find yourself asking these questions, you should consider a few things before making a decision.

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The cost to start an LLC will largely depend on the state of formation. Here are examples of some of (not all) the costs associated with an LLC in several popular states:

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When two people agree to form a business together, what would you guess they call it? Naturally, many people use the term “Partnership.” In some instances, Partnership is technically correct, like when two or more attorneys share an office and referrals, or two accountants do the same. However, today the term “Partnership” is misused by many, and it could have an impact on their business.

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