Starting your own business is a big undertaking, and there are many important decisions you will need to make along the way. One of the most important decisions you will need to make is what type of business entity to establish. There are several different types of business entities, each with its own advantages and …
S Corporation (S Corp) is a business entity created through an IRS tax election. S Corps are considered by the IRS to be pass-through entities, meaning that the corporation’s income is passed through to the shareholders and taxed at the individual level. S Corps are subject to many of the same rules and regulations as …
When most people think of corporations, they think of large, multinational businesses. However, the term “corporation” can refer to any type of business entity that is legally incorporated. Incorporating a business has many advantages, including limited liability protection for the owners and more favorable tax treatment. What is a Corporation? A Corporation is a legal …
A business partnership is a legal relationship formed between two or more parties to carry out business activities. The partners involved in the business partnership share the profits and losses incurred during the course of business. A business partnership is a popular business structure as it allows two or more people to team up and …
A sole proprietorship is a business owned and operated by one person. This type of business is relatively easy to start and maintain, and does not require any special paperwork or licenses. Sole proprietorships are the most common type of business in the United States, accounting for more than 70% of all businesses. There are …
When creating a new business, you will need to decide which type of legal entity to form. The most common types of business entities are the sole proprietorship, partnership, limited liability company (LLC), and corporation. Each has its own advantages and disadvantages that you should consider before making a decision. One important factor to keep …
After some thought and research, you’ve decided to form a single-member LLC. But what kind of business entity should you choose? Here’s a quick rundown of the single-member LLC vs S corp debate. As the name implies, a single-member LLC is an LLC with only one owner. An S corporation, on the other hand, is …
Starting a business is a multi-step process, and one of the first decisions you’ll need to make is what type of business entity to establish. There are several different types of business entities, but two of the most common are multi-member LLCs and single-member LLCs. So, what’s the difference between these two types of LLCs? …
Wanting to add a DBA To Your Existing LLC in Florida? An LLC is a limited liability company, which is a business structure that offers personal liability protection and flexibility when it comes to how the company is taxed. An LLC in Florida can be formed by filing Articles of Incorporation with the Florida Department …
