Business Entity Selection
CHOICE OF ENTITY
One of the most important decisions that you make revolves around understanding the proper type of organization you should use with your business. Choosing the right or wrong form of entity for your business can have longstanding tax implications, positive or negative. We can help guide and direct to a successful outcome in this area. Remember that forming a business enterprise may be one of the most important decisions you make when taking on a business venture.
There are many choices and types of entities to choose from in our present time. The choice is not nearly as easy as it once was before. With the business enterprises rapidly expanding, you now have the choice between the following:
- Sole Proprietorship
- General Partnerships
- Limited Partnerships
- LLC: Limited Liability Companies
(further discussion of the various entities,Click on the entity or see the left side navigation menu
Protect Yourself – You Deserve That Much
Probably the most important factors in the choice of business entity is the need for limited liability for owners and control of your taxes. Limited liability refers to personal liability for torts and claims against the entity. The wrong choice would cause you to have personal liability that could wipe out your personal assets. And the wrong choice of entity could cause you to be paying higher taxes.
We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company.