Incorporations

New Business Formation:

Discuss the advantages and disadvantages of the S-Corporations, C-Corporations, Partnerships, and LLC’s. To set up a new business we will obtain the articles, and a new Federal Tax Identification # for the business. Most important we will help you know how to use your new corporation and with opening your business bank account. Sometimes the best choice for small new business is simply to obtain a fictitious name and file as a Schedule C. Based on your circumstances and use for the business we will show you the best one for tax advantages or the best one for legal protection.

We will also...

Discuss how payroll works and whether or not you will need to start payroll at the time of incorporation.
If you are going into a new business with a partner you will want to discuss a partnership agreement to avoid disputes later.
If a sales tax # or resale certification is need we will get you a sales tax # and resale certificate to avoid sales tax on all purchases you are reselling.

Corporations or LLCs???

Corporations and LLCs are both wise choices for business owners looking to minimize their personal liability and build greater credibility. However each entity also offers distinct tax and business advantages. Choosing the right one depends on the specific needs of your business and we can help you figure out which is best for you.

Corporations offer personal liability protection, tax savings, and increased opportunities for raising capital. Corporations are also required to perform certain formalities such as holding annual meetings and keeping detailed corporate records (minutes). With LegalZoom you can choose to incorporate as either a C or S
corporation.

Limited Liability Companies (LLCs) offer the same personal liability protection as a corporation, but with fewer of the corporate formalities. They typically are not required to hold formal meetings or keep detailed corporate minutes. LLCs also offer great tax flexibility. Members can choose to be taxed as either a traditional corporation or as a "pass-through" entity.

C Corporation

Personal liability protection for owners
Can spread profits between the owners and the corporation to lower the effective tax rate
Formal meetings and corporate minutes
Annual state reports
No membership restrictions

S Corporation

Personal liability protection for owners
Can spread profits between the owners and the corporation to lower the effective tax rate
Formal meetings and corporate minutes
Annual state reports
No membership restrictions

LLC

Personal liability protection for owners
Income/loss passed directly to shareholders
Formal meetings and corporate minutes
Annual state reports
Membership restricted to 100 shareholders

Should I DBA???

A DBA is a term/accronym/abbreviation for "doing business as." Registering a DBA will be required if you plan to operate your business under a name that differs from your company's legal name.

With a DBA you can legally open a bank account and conduct other business transactions using your trade name. (DBA) This is a critical first step toward building name recognition & financial creditability for your business.