Which to choose “LLC or S”? Let’s compare the LLC vs S Corporation to answer the question. An S Corporation has been one of the most preferred and popular forms of business structures in the United States for several years. Recently however, many business owners are realizing the benefits of a relatively new structure the LLC. In comparing these [...]
A company attains an S-Corporation standing by electing to be taxed as a sole proprietorship or as a partnership company. This status is attained after completing the formalities laid down by the Internal Revenue Service. Many small businesses adopt the S-Corporation position because profits and losses are then appended to the investors or shareholders’ individual tax returns. This does away with the “double taxation” that shareholders would otherwise have to pay when a profit is made and again when they receive it as an income.
Creating an LLC or limited liability company is one of the popular forms of business registration in the United States. Creating an LLC is possible to do without having to hire a lawyer although most experts advise that it is always in a company’s best interests to get good legal and financial advice before making any major business decision.
The major feature of a limited liability company is that it limits the liability of the owners to the extent of their equity while excluding the personal liability from the general debts and other obligations of the company. This is unlike other forms of business ownership like a sole proprietorship in which the owners assume [...]
from some of the liabilities of being in business and at the same time receive some of the tax benefits of other more elaborate business registrations like an incorporation or partnership. In order to register a business as an LLC or limited liability company the business has to prepare articles of organization and file them [...]
To set up an LLC or limited liability company is one of the major decisions that any business or company can undertake. This form of business registration has a lot of implications for the operation and management of the company and can ultimately contribute to its success or failure. But the first thing any business that wants to set up an LLC should do is to get good advice.
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