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Regardless of the size of your business, if you’re a sole proprietor or a simple partnership you and your business are legally the one and the same. This means if your business ever becomes liable for damages or excessive taxes, you could be held personally liable as well… putting all your assets at risk. But it doesn’t have to be that way.

By simply incorporating the proper structures around your business and personal assets, the courts and the IRS will recognize your business as a separate entity from you… it becomes its own legal “being.” There are many different types of entities and combinations to choose from…

Here are just a few:
Sub-chapter “S” Corporations where you can split how you take money out of the company to minimize your taxes.

“C” Corporations are taxed separately on their profits, not their income… so if there are no profits, there are no taxes (You STILL need to file tax returns). Their structure allows you to get many benefits paid for yourself and your family literally tax free.

Limited Partnerships or Limited Liability Companies (LLC) are a relatively simple formation popular with advantages for groups of partners. Real estate investors like LLC’s because they give the investors protection in the event a tenant or buyer decides to sue. If the tenant or buyer wins, the only thing available to pay the judgment is whatever is in the LLC. The investors’ other assets are safe.

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Conference Call April 29th 2019

April 29th, 2019 Operating agreement termsBuy sell agreement and rulesLabor law complianceS LLC electionAnnual reportsAnnual meetingsChange of AddressIf my LLC has multiple members, what is…
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Conference Call April 15th

April 15th, 2019 moving from MA to NC. needs an RA needs to set up NC LLC.FL Filing questionspersonal vs business expenses, loan agreements,continuing education…
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Conference Call April 8th 2019

2109 04 08 signing the operating agreementSchedule ACapital contributionShould your company have insurance“S” electionSchedule BCA SoS feesTax year and payments
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Conference Call March 25th

undoing S Corp election loans and capital contribution business plans change Financial year – C Corp filing Do-it-yourself companies. using one LLC fror multiple flips…
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Conference call

March 11, 2019 Conference Call

S Corp taxation paying yourself owners draw as a realtor schedule “A” capital contribution amount of interest on a loan paying interest through a company…
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Conference Call

I have an LLC and I did not file anything for taxes. What are we supposed to do? Would you have a template that we…
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The formation of a trust gives added layers of asset protection for businesses, individuals or families. There are different types of trusts with various strong points from simple land trusts for real estate to irrevocable trusts for passing on wealth.
There are many others, but what’s important is to recognize the value of mixing and matching the ones that give you the most asset protection, tax savings and other benefits for your particular needs. There are literally hundreds of reasons every business should form strong legal structures or entities around itself.