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Optimal Business Structure

S-corp vs. LLC decision

There are several main types of business entities that require federal tax filings. Partnerships, C-Corps, and S-Corps, and “disregarded entities,” such as LLCs. So, the following questions arise:

  • Which business structure is best for your business?
  • What deductions and/or strategies apply for each one?
  • Which is the quickest one that I can set up? What responsibilities do I have with each entity type?
  • What are the pros & cons I should consider?
  • What deadlines pertain to these?
  • Which structure is the least expensive to maintain?
Well, your decision depends on quite a few factors that are individual to your business, such as:

  • Do you have employees? If not, how many do you expect to have in the short term? 
  • What industry are you in?
  • What cities, states or countries will you be doing business in? 
  • How much do you expect to earn?
  • Various personal goals, long-term plans, and individual preferences
We will help you select & structure the entity type that makes sense for you. We can also assist on the following common questions:

  • How to pay yourself 
  • Quarterly tax rules
  • Common mistakes 
  • Bookkeeping best practices 
  • Important deductions (including quite a few you may not know about) 
Feel free to reach out should you have questions about these entity types. We can help you choose between them & even offer formation services.  

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