When starting a business it is important to determine what type of legal entity the company is going to take. Many businesses are started by one individual which makes them a sole proprietor when they are starting.
As businesses grow they often get changed into a partnership or a corporation. If the owner decides that they want a corporation, there are two types that are more common than others, the limited liability corporation and the S Corp. The LLC has a lot of advantages over the S Corp.
Advantages of an LLC
There are four main advantages of an LLC. These are the basics but if you have questions about how this affects your family in case of a divorce or an inheritance, a qualified professional at National Family Solutions, can help you.…Continue reading