The Difference Between An LLC And A Corporation

When it comes to forming your new enterprise, there are a lot of different documents that you have to fill out before you can become legal in the eyes of the IRS. The first and most important thing you have to do is determine the kind of entity you want your business to be.

LLC vs. Corporation

Usually, small business owners will compare LLC vs. Corporation, but how do they stack up against each other? Let’s go over some important metrics to find out.

Liability

One of the benefits of starting an LLC or corporation is that the company is separated from your personal assets, including things like debt.…

Continue reading

Advantages of an LLC over an S Corp for a Family Business

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.

LLC benefits

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