How to select the right entity for your business

How to select the right entity for your business - How to select the right entity for your business

Lions, tigers and bears Oh My! Sole proprietorships, corporations, limited liability companies Oh My!

So many options, so many rules, so many possible dangers. When matters become too complex it’s human nature not to make any choice. In this article, I am going to discuss the keys to select the right entity for your business

Would you ever leave your children unguarded in a busy shopping center or sports area? I doubt it…

Doing business as a sole proprietorship is like leaving your business unguarded. It is the least desirable way of doing business both from a liability and tax point of view. Sole proprietorships offer no protection from a lawsuit. Everything you own is at risk. From a tax perspective, the net profit you make is subject to roughly a 15% self employment tax. Your net profit is also subject to income tax. That’s a double whammy.

By using a corporation you can protect your personal wealth from lawsuits against the business. Certain kinds of corporations called S corporations allow you to pay less tax on the money you make. That’s money in your pocket that you get to keep.

A limited liability company plain and simple is a bad structure for business but a great one for real estate. The LLC has owner members and managers who run the daily operations. For real estate this is a great vehicle offering flexibility.

Simple choices, simple solutions. Make money work for you.

Make Money Work For You

Take action by creating a long-range plan for your business that will help you keep more money in your pocket rather than the government’s.

Set up a meeting with one of our tax professionals and discuss ways to position your company for success by giving us a call at (760) 579-0079.

Or you can contact us >>HERE<<

Unless your situation is very straightforward we are well positioned to find ways that will more than compensate you for the time and cost you spend with us.

Make Sure You Have the Right Entity For Your Business

Take action by creating a long-range plan for your business that will help you keep more money in your pocket rather than the government’s.

Set up a meeting with one of our tax professionals and discuss ways to position your company for success by giving us a call at (760) 579-0079.

Or you can contact us >>HERE<<

Unless your situation is very straightforward we are well positioned to find ways that will more than compensate you for the time and cost you spend with us.




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