Deciding on a structure for your business is no small task. Each option has advantages and drawbacks, and the right choice for you depends on your circumstances and goals. A limited liability company is one of the simplest structures offering legal protection and financial benefits.
With the rise of the gig economy, many people are seeking alternative ways to supplement their income or pursue their passions. From freelance writing and graphic design to selling handmade goods on online marketplaces, the options for starting a side hustle or small business are virtually endless. Whether you're tech-savvy and want to start a software development business, creative and want to start a design studio, or entrepreneurial and want to start a retail store, the opportunities for starting a side hustle or small business are vast and varied.
One of the most important (and earliest) decisions you will make regarding your business is the structure. This is a big decision since it will have a huge impact on the amount of personal liability you take on, the amount of paperwork you are legally required to do and the amount you pay in taxes.
The LLC form of company ownership generally shields individual owners (known as members) from personal liability for the debts or […]
Federal income tax rates for C corporations have been reduced to a flat 21%, starting in 2018 under the Tax Cuts […]
How does your small business Corporation or LLC pass to your family members upon your death? We have come across […]