Business Structures
Choose Your Business Structure
Sole Proprietorship.
If you don’t want to incorporate your business, but you simply need a DBA, we can help with that too.
Answers to Your Questions
What business type should I choose?
It depends on your type of business and your plans, as every type of structure comes with advantages and disadvantages.
Why incorporate?
At the top of the list: asset protection. With a corporate veil, you shield your personal assets and keep business assets strictly within the business. Beyond that, your business becomes perpetual and you can transfer ownership. You can raise capital through investors. And you can save money on taxes, as the corporate tax rate is lower than the individual tax rate.
How long does it take?
Not long. A few weeks usually.
Difference between a C-Corp and an S-Corp?
The main difference is C-Corps are double-taxed. It pays taxes on it’s net profit and its shareholders pay taxes on the income they receive. As well, S-Corps can only have up to one-hundred members. Whereas C-Corps can have unlimited members
Should you choose an LLC or a Corporation?
LLCs can take on investor members but they can’t sell shares of stock. Corporations can sell shares of their businesses.