- Sole Proprietorship – A Sole Proprietorship is easy to form, but it offers little liability protection, funding options, and opportunities for future growth.
- Partnership – A General Partnership is the most basic form of partnership. It is comparable to a sole proprietorship, but it must have at least two owners or partners.
- C Corporation – The C Corporation is the most common form of corporate entity. The C Corporation is owned by shareholders. The shareholders elect a board of directors to create and direct the high-level policies of the business.
- S Corporation – An S Corporation is different from a C Corporation in two significant ways: (1) An S Corporation makes an election to be taxed as a “pass-through entity” and (2) An S Corporation has limitations on ownership.
- Limited Liability Company – A Limited Liability Company is a popular business structure because it combines the liability protection offered by incorporation while retaining some of the tax advantages of a Partnership or Sole Proprietorship.
- Professional Corporation – Individuals who provide a professional service can also benefit from forming a Professional Corporation. Where a business provides a professional service, most states have special filing requirements when incorporating.
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