Starting a business is an exciting venture and can be a viable pathway to fulfilling your dreams. However, before you choose a C-corporation, it’s imperative you have a clear understanding of the benefits of a C-Corp as well as the disadvantages of a C-Corp. Failure to understand and consider the potential disadvantages of C-Corp can […]
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The benefits of C-Corps are one of the primary reasons these types of business entities dominate American business. Simply put, there are far more C corporations than any other type of business in the U.S. While there are numerous reasons to explain their popularity, the main and most attractive benefits of a C-Corp include: Limited […]
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Differences Between an S-Corp vs C-CorpThere are several important differences between these kinds of corporations. One of them has everything to do with taxation. C-corporations are widely regarded as tax-unfriendly entities, the primary complaint being “double taxation.” The business entity is taxed by the government with corporate income taxes, and the personal income of the […]
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If you’re at a point of deciding what kind of business structure to form for your new enterprise, it’s important to know your options. LLCs and S corps have a lot in common, and also a lot of differences. The tax differences between these two are especially important to understand. Any entrepreneur can appreciate the benefits […]
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It’s your business and livelihood. You’ve worked hard to build, nurture, and establish them both; and the benefits of an S Corporation may be the best way to protect it all. An S Corporation or S Corp is similar to a type of corporation — offering investment opportunities, the ever-so-important protection of limited liability, and […]
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Although most people understand the vast benefits of limited liability companies (LLCs), significantly less are aware of the disadvantages of forming an LLC. And while the benefits may outweigh the costs, it’s only fair to look at both sides of the coin and explore the disadvantages of forming an LLC. to learn more […]
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Running a business can be difficult due, especially when you consider complex tax rules and the possibility of opening yourself up to liability lawsuits. Anyone who has ever run a business would agree. If you’re thinking of starting a new business – or if you’ve been making money and need to create a business for […]
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If you’re setting up a business in Long Island or anywhere in the surrounding area, you’ll have several options regarding to how you structure it — especially if you’re just one individual. The default option for many Americans is the a sole proprietorship (SP), which is a good choice over working as yourself as an […]
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As the owner of a business, you may be eligible for the best tax deductions for S Corps. The S corporation is a unique creature of federal tax law wherein you initially form an LLC or corporation and then elect taxation of an S Corp. While your legal entity will remain an LLC or corporation, […]
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Having a year end accounting checklist and closing procedures is critical to the long term success of your business. It’s important to start the new year with a fresh, clean slate that is correct and organized, so you’ll be poised for success. Whether you have an accountant on staff or use the expertise of an […]
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