Is 21 too young start your own business? Most new business owners and entrepreneurs don’t know the difference between an LLC and a corporation. What is the difference between an LLC (Limited Liability Company) and a corporation? They both protect their stockholders or members from liability. The main difference between an LLC and a Corporation is the way they are handled at tax time. The IRS allows LLCs to choose between being taxed as a corporation, or a partnership, or even a sole proprietorship. They are also the easiest entity to maintain because LLCs are not required to hold formal meetings or maintain a minute book as Corporations are. But forming your entity as a Corporation can give you significant tax savings. Knowing these things can help young, new businesses owners and businesses choose the right entity type.
Starting a NEW business or know someone that could use our help? Call your friendly neighborhood attorney today.
With the right help, you are more likely to succeed. The attorneys at Shoffner & Associates will be happy to help you.
Freya Allen Shoffner, Esq.
Shoffner & Associates
Counselors to Small Business and Families.
Give Freya a call at (617) 369-0111 TEXT US (857) 524-3422 or email firstname.lastname@example.org