BUILD YOUR BUSINESS FROM THE GROUND FLOOR
When it comes to establishing a business, there are many routes you can take, each with the set of advantages. The one with the most advantages from a taxing standpoints is definitely a corporation. Compared to sole proprietorships, LLC’s come with a lot more flexibility in terms of how you are taxed. They provide you with the freedom to choose if you’d like your business to be taxed as a part of your individual income or as its own separate entity. With an LLC, your business can incur debt as well as pay its own taxes, having no effect on your personal finances. They also enable you to set high contribution limits for retirement and insurance policies, as well as more opportunities for tax deductions. In other words, becoming a corporation is the way to go.
Despite all its advantages, a business doesn’t become a corporation overnight. There is a lot of documentation and filing associated with obtaining LLC status, which can take some time without the right guidance. Fortunately Tax Experts is here to lend a hand. We assist you with the Employer Identification Number application process needed for incorporation, and to file your income tax documents. Tax Experts is with you every step of the way on the road to becoming a corporation, as we use our expertise to inform you on everything you’ll need and assist with any speed bumps.
Everything that has a beginning, must come to an end
If you’re looking to convert your business into a corporation, learn about the tax benefits of owning a LLC, or are closing down an organization, feel free to contact us.