In the business world, corporations and limited liability companies have long been common parlance.  However, individuals starting small businesses are now starting to realize that they too can take advantage of several corporate forms.   We can help you set up your small business the right way, at a minimal cost. 

Corporations

• Shareholder liability is limited to loss of amount invested in the corporation
• Shares can be easily traded
• Dividends are taxed at a lower rate than wage income

Small Corporations (Sub-S)

• Easier for individuals to administer
• Corporation is not taxed, individual pays taxes
• Liability protection

Limited Liability Companies (aka LLC's)

• Liability protection
• Combines the benefits of a partnership with those of a corporation
• LLC is not taxed, individuals pay taxes as though the LLC were a partnership
• Better protection from creditors and from bankruptcy trustees

Limited Liability Partnerships (LLP's)

• Like LLC's, except that only the general partner is fully liable
• Great protection for limited partners from creditors and bankruptcy trustees