S corporation

last meet I have since been able to come up with three potential business options that will be able to suite you the best at Reed & Associates. Based on your given situation of being married with children I feel as though starting an LLC, C Corp, or S-Corp are all very viable options that can take your business to the next level on just about every aspect. Since you are currently running as a General Partnership though I will also take you through some options that are available for you if you…

that the light cannot mix with the darkness. God tells us that we should use caution, and not get mixed up in business affairs with nonbelievers, which tells Wanda not to form a corporation or an LLC with her friend. I agree that when starting a business, it is important to consider the structure of a corporation or Limited Liability Company (LLC).…

Corporation is a business separated from its owners. Corporations can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes. Advantages of a corporation is it is a limited liability that protects owners from losing more than they invest. The business can achieve large sizes due to marketability of stocks. It receives certain tax advantages. Has greater access to financial resources allows growth within the company. Attracts employees with specialized…

entity. Two Advantages Two advantages are that the S-corporation avoids the double taxation of a regular corporation and investors can deduct against their other income because of the flow through entity with taxes. Two Disadvantages Two disadvantages are that they can have no more than 100 shareholders, and the shareholders must be individuals, charities, estates, trusts, or pension funds, not partners or corporations. Liability In an S-corporation the shareholders have limited liability and…

I. Summary of Applicable Facts: Career Institute of America, Inc. (CIA), a non-for profit corporation formed a year ago in Delaware by its current CEO who is the majority owner and controls the company’s business. CIA is an online and classroom education organization that provides training to students in the United States auto industry, one of the country’s largest industries. Whereas, the majority of CIA’s income is from the online training courses, CIA did receive a retraining grant…

Limited liability companies (LLCs) offer business owners several advantages over sole proprietorships, partnerships and in some cases S and C corporations. Business operators who take advantage of LLC business formation can realize significant financial benefits and can also use living trusts to facilitate exchanging limited liability company ownership more easily relative to using a will. LLCs offer the asset protection enjoyed by corporate entities, are less expense to maintain and require…

Members of an LLC (Limited Liability Company) actually have the same luxury of liability protection as corporations. o Income Taxes- It is a limited liabilities company choice about how they would like to be taxed. They can be taxed either as a whole corporation on the net income of the company or as a partnership and have the members of the business pay personal income tax. o Longevity and or Continuity- The OOA (Official Operating…

Project Repeat might shy away from the idea of becoming an S corporation. While Project Repeat might be able to avoid double taxation that regular corporations face, they would also be facing a lot of restrictions. One problem with S corporations is that they can only have 100 stockholders. In addition, the limited number of stockholders, there are also restrictions on who can own stock in the company. Another drawback to this type of corporation is that all of the outstanding stock has to be…

company, but also in dissolution that can be viewed as a tedious task, as well as additional procedures that must be followed correctly in order to properly dissolve. Taxes for the corporation must be filed as a separate tax entity, and double taxation is also present, which could be unappealing to some. When in a corporation there are rules and formalities that must be followed when organizing and running, which some people may not want to adhere to. An additional disadvantage to the company…

Company to Corporation. The best possible options that would serve your needs are as follow: General…