Starting a business has never been so easy.
Deciding how your business will be structured is an important step in starting your business. It determines how your organization will operate and how it will be taxed. Whether you choose a limited liability company (LLC), corporation,
sole proprietorship, or partnership Jay Finn, CPA is here to help.
Which structure is best for your business?
The tax and accounting professionals at Jay Finn, CPA will discuss the benefits of each business structure to determine which one best suits your business. Once you choose your business structure, we’ll take care of the rest! We’ll file all of the documents with the appropriate agencies so you can focus on the details of your business that matter the most.
LLCs are a popular business structure for new and small businesses because they’re simpler and more flexible than a corporation.
An LLC can provide business owners the same limited liability protection as a corporation.
If you don’t need investment money & need flexible taxes, an LLC may be right for you.
An S-Corp is a small business corporation that offers significant tax advantages while still preserving your ownership and interests.
Depending on how you pay yourself throughout the year, and how you report your personal income to the IRS, you can reduce your tax burden and eliminate double taxation that other corporations are subjected to.
Typically a better business structure for large corporations, a C Corporation is subject to corporate income taxes.
C Corps are more attractive to potential investors and shareholders because they allow for wider ownership however it does have more extensive legal requirements.
Sole proprietorship is for individuals who have gone into business for themselves and haven’t created a formal business structure.
A sole proprietor is personally liable for the debts of the business. A sole proprietor must also report all profits and personal income as well as pay a self-employment tax.
A Limited Partnership allows for partners to invest in an organization and protects them from losing more than their investment.
Federal and state governments don’t tax the partnership itself. Instead, individual investors report their profits or losses on their own tax filings.
Non-profit organizations are eligible for grants and donations as well as certain state and federal tax exemptions. Members and officers are protected from personal liability.
Depending on the type of Non-profit you form, contributions are tax deductible for your donors.
We’re here for the long haul…
Our help doesn’t end once you’ve set up your business. We’re here to see you through your journey and to help with everything your business faces.
Company name & address change
real estate sales
annual report filing
certificates of good standing
business tax preparation
Contact us for a brief consultation.
We’ll give you all of the tools you need to get your business up and running.