A Limited Liability Company (LLC) is a popular and flexible business structure, ideal for smaller organizations. Formed at the state level, LLCs can have one or more owners and provide a versatile legal framework for businesses.

• Limited liability protection! In many cases, forming an LLC can help reduce or eliminate your personal responsibility for business debts and liabilities. This means your personal assets, like your home, car, and savings, are protected if your LLC faces bankruptcy or lawsuits.
• LLCs also have simpler record-keeping requirements compared to corporations.
• Plus, you’ll have the flexibility to choose how your business is taxed.

• LLC members are typically considered self-employed.
• Depending on its structure, an LLC can choose how it is taxed.
• You’ll be responsible for paying Medicare and Social Security tax contributions.

It combines the advantages of an LLC with the tax benefits of an S Corp election. Essentially, it allows you to avoid double taxation on both personal and business income. When you set up your LLC + S Corp with Us, we first help you establish your LLC and then file the S Corp election.

• To avoid paying corporate tax rates.
• To prevent double taxation on both personal and business income.
• You can reduce your tax liability for Social Security and Medicare by paying yourself as an employee.

• An LLC with an S Corp election helps you avoid double taxation on both personal and business income.
• By paying yourself as an employee of the LLC, you can reduce your tax liability for Social Security and Medicare.
• Since your tax rate is income-based, you may benefit from lower tax rates compared to corporations.

A C Corp is a business structure suited for companies that may eventually go public, as it allows for an unlimited number of shareholders.

• Issuing stock can help attract and retain both employees and investors.
• There is no limit to the number of shareholders.
• Your company can have unlimited longevity and significant growth potential.

Income is subject to double taxation: first at the corporate level, and then again at the shareholder level when dividends are distributed.

A nonprofit is a unique business structure designed to serve the public good. Its primary purpose is to provide benefits to organizations focused on public service, such as community groups, churches, and specific charitable organizations.

Most nonprofits are established to serve the public good, while also offering the same limited liability protection as an LLC.

• Nonprofits qualify for state, federal, and other tax exemptions.
• By applying for 501(c)(3) status, donations made to your organization can become tax-deductible.