The answer depends on the specific needs of your business. Corporations and LLCs can both be excellent choices for business owners. Both forms minimize personal liability and can help build greater credibility. It is important to recognize that each type of entity offers distinct tax and business advantages. The specific needs of your business will determine which form is the most appropriate for you. Choosing the right one depends on the specific needs of your business. At no extra cost, we will consult with you to help you make the right choice.
Corporations offer personal liability protection, tax savings, and increased opportunities for raising capital. Corporations are also required to perform certain formalities such as holding annual meetings and keeping detailed corporate records (minutes).
Limited Liability Companies (LLCs) offer the same personal liability protection as a corporation, but with fewer of the corporate formalities. They typically are not required to hold formal meetings or keep detailed corporate minutes. LLCs also offer great tax flexibility. Members can choose to be taxed as either a traditional corporation or as a “pass-through” entity.
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