Business Formation
LLC
- Protection from liability limits! You can often lessen or even eliminate your personal liability for business debts and liabilities. You could safeguard your own resources, like your vehicle, house, and investment account in the occasion your LLC faces liquidation or claims.
- The record-keeping necessities are for the most part more basic, contrasted with enterprises.
- You will be able to choose how your business will be taxed.
LLC + S Corp
- To avoid paying the rates of corporate tax.
- To avoid paying both personal and business taxes simultaneously.
- By paying yourself as an employee, you can reduce the amount of taxes you owe on Medicare and Social Security.
C Corp
- The issuance of stock can help draw in and hold representatives and financial backers the same.
- The number of shareholders is unlimited.
- There will be ample room for expansion and an unlimited lifespan for your business.
Nonprofit
- Many nonprofit organizations are established to benefit the public and offer the same limited liability protection as an LLC.