Business Structures

The choice of company structure is one of the most crucial decisions you will make if you are thinking about launching a business. A limited company is one choice and has several advantages over other types of arrangements. We’ll go over the benefits of having a limited company in this post, along with how it … Read more

What is the difference between a family limited partnership and an LLC? What is the Difference Between an FLP and an LLC? LLCs protect every member from liability where FLPs only protect limited partners. FLPs offer unique taxation benefits when shares are gifted as inheritance which allows senior members to pass down money in the … Read more

What is the best business structure for a cleaning business? A sole proprietorship is the easiest type of legal structure for starting your cleaning business – but also the one with the most risk exposure. As a sole proprietor, you can be held personally responsible for any liabilities and the performance of your business. Read … Read more

Which type of corporation is best for my business? If you want sole or primary control of the business and its activities, a sole proprietorship or an LLC might be the best choice for you. You can negotiate such control in a partnership agreement as well. A corporation is constructed to have a board of … Read more

Is freelance an LLC? The name itself describes the LLC’s biggest advantage to you, as a freelancer. LLCs limit your personal liability. That means that you are fully responsible for paying your freelance business taxes on your personal tax return. This is the easiest way to get going, but you do open yourself up to … Read more

What is the difference between a non profit and LLC? The primary purpose of any nonprofit is to provide a service to the general public whereas the purpose of forming an LLC is to earn profit for its members. Not all states allow nonprofits to operate as LLCs. Nonprofits have to reinvest any income they … Read more

Is a single member LLC the same as a sole proprietor? According to the IRS, a single-member limited liability company is a “”disregarded entity””, meaning there is no separation between the business and its owner. By default, the IRS taxes it the same as a sole proprietorship. Read more on www.wolterskluwer.com One of the first … Read more

Like a single-member LLC, a QSub is disregarded for federal income tax purposes — it simply does not exist. Read more on www.robertsandholland.com A subsidiary corporation that is entirely owned by a S corporation is known as a QSub, or qualified subchapter S subsidiary. The subsidiary is treated as the S company’s income, deductions, and … Read more

Is sole proprietor a company? A sole proprietorship (also known as individual entrepreneurship, sole trader, or simply proprietorship) is a type of unincorporated entity that is owned by one individual only. Corporations are allowed to enter, a sole proprietorship does not create a separate legal entity from the owner. Read more on corporatefinanceinstitute.com It’s critical … Read more

How many types of sole proprietorship are there? Typically, there are four main types of businesses: Sole ProprietorshipsSole ProprietorshipA sole proprietorship (also known as individual entrepreneurship, sole trader, or proprietorship) is a type of unincorporated entity that is owned only, Partnerships, Limited Liability Companies (LLC)Limited Liability Company ( Read more on corporatefinanceinstitute.com An individual owns … Read more